Property Overview & Key Characteristics
946 Lipton Street is a classic one-and-three-quarter storey home in Winnipeg's Daniel McIntyre neighbourhood, built in 1906. Its key appeal lies in its established location and generous lot size. The property sits on a 2,338 sqft land parcel, which ranks in the top 5% for size on its street, offering valuable outdoor space in a mature, central area. With 1,258 sqft of living space, the home provides room to grow. It's important to note the basement exists but is noted as "not renovated," presenting either a project or storage potential. The home lacks a garage, which is common for the area and era.
This property would suit a pragmatic buyer who values location and land over turn-key finishes. It's a potential match for a first-time buyer or an investor comfortable with a home that has good bones but requires updates. The very low assessed value suggests it may be positioned as an affordable entry into the neighbourhood, appealing to those looking to build equity through renovation. A thoughtful perspective is that while the house itself is average-sized for the area, the larger-than-typical lot could be a long-term asset for expansion, gardening, or simply enjoying more private outdoor space in the city.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for Winnipeg homes of this era. It typically means the second floor has slightly less floor area than the main floor, often with sloped ceilings or dormer windows, creating cozy but character-filled bedrooms.
2. The assessed value is notably low. What does this indicate?
The assessed value is for municipal tax purposes and is not a market valuation. A low assessment often reflects the home's original condition and unrenovated state, particularly the basement. It can result in lower property taxes, which is a practical advantage for a new owner planning renovations.
3. What is the significance of the lot size ranking so high?
Ranking in the top 5% for lot size on the street means you're getting more land than most neighbours. In established neighbourhoods, land is the appreciating asset. This provides more flexibility for outdoor use, parking solutions, or future additions than a standard lot.
4. The basement is "not renovated." What should I consider?
This means the basement is in its original or utilitarian state. It likely has foundational and structural integrity but will require significant investment to modernize into finished living space. It should be thoroughly inspected for moisture, insulation, and wiring to understand the full scope of any project.
5. There's no garage. What are the parking options?
The property has no dedicated garage. Parking would be on-street. Buyers should verify local parking regulations and typical availability. For some, the large lot could allow for the future construction of a garage or parking pad, subject to city bylaws and permits.