Property Overview: 935 Lipton Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1913, offers a practical footprint of 1,200 square feet in Winnipeg's Daniel McIntyre neighbourhood. Its key appeal lies in its positioning as an accessible entry point into the housing market. The living space is squarely average for the area, providing a comfortable scale for a small household. Notably, the home’s assessed value is significantly below both the neighbourhood and city-wide averages, suggesting a potentially lower purchase price point or property tax burden compared to many other homes.
The property suits first-time buyers, investors, or practical renovators who prioritize location and fundamentals over turn-key condition. It’s important to note the home has a basement that is not renovated and does not include a garage. The lot size is smaller than most, which translates to less exterior maintenance but also limited private outdoor space. For the right buyer, this represents a straightforward canvas—a classic early-20th-century structure where value can be added through updates over time, rather than paying a premium for already-completed work.
Frequently Asked Questions
1. What does "below average" assessed value actually mean for a buyer?
A lower assessment often correlates with a lower market price and lower annual property taxes. However, it can also reflect the home’s current condition, lack of recent renovations, or its smaller lot size. It’s a starting point for value, not a definitive marker of sale price.
2. Is the smaller lot size a major drawback?
It depends on your lifestyle. A smaller lot (2,339 sq ft) means less yard work and lower maintenance costs, which can be a benefit. The trade-off is limited space for additions, extensive gardening, or large private gatherings.
3. The home is over 110 years old. What should I be prepared for?
While the structure has proven its durability, essential systems like plumbing, electrical, and the foundation should be a focus during inspection. An older home like this may offer solid craftsmanship but requires a budget for ongoing upkeep and potential updates.
4. Who might this property not suit?
Buyers seeking a move-in-ready home with modern finishes, those who require ample storage or vehicle shelter (note: no garage), or families desiring a large backyard for play may find this property too much of a project or too limited in space.
5. How does the sale history from 2023 influence today's value?
The prior sale price provides a recent market benchmark, but current value is driven by today’s market conditions, any changes made to the property since then, and how it is priced relative to currently available homes.