Property Overview: 965 Lipton Street, Winnipeg
Key Characteristics & Appeal
This is a compact, century-old home (built 1909) in the Daniel McIntyre neighbourhood, presenting a straightforward entry point into Winnipeg’s housing market. Its key characteristic is its modest scale: at 971 sqft of living space on a 2,338 sqft lot, it is smaller than most homes locally and city-wide. The home has an unfinished basement and no garage. Its assessed value is notably low compared to the city average, but is typical for its immediate area.
The appeal lies in its affordability and location. It suits a first-time buyer, an investor, or someone seeking a minimalist footprint who is comfortable with a home that requires updates. A thoughtful perspective is that its smaller size and lot can mean lower utility costs, less maintenance, and a smaller physical and financial footprint—a practical choice in an expensive market. It’s not a move-in-ready showpiece, but a functional canvas. The neighbourhood itself, being central, offers convenience and character that may outweigh the home’s physical constraints for the right buyer.
Frequently Asked Questions
1. Is this a good value for a first-time buyer?
For a buyer strictly prioritising low entry cost and location over space and modern finishes, it represents a clear opportunity. Be prepared to budget for updates over time.
2. How does the small lot size impact living here?
The lot is smaller than most in the area. This limits expansive outdoor space but simplifies yard maintenance. It’s a trade-off that emphasizes low upkeep.
3. What does the "unfinished basement" mean for potential?
It offers functional storage or mechanical space as-is. Finishing it would add livable square footage and value, but that is a future project cost to consider.
4. The home is over 110 years old. What should I be most concerned about?
While systems like roof, wiring, and plumbing may have been updated over the decades, a thorough inspection is essential to understand the condition of the foundation, structure, and major components typical of a home of this age.
5. How does the assessed value relate to the likely selling price?
The assessed value for tax purposes is a starting point, but market price is determined by current demand. The last recorded sale was in 2020 for $20,800. A current market evaluation is needed to understand today’s value.