Property Overview: 970 Lipton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1910, presenting a straightforward opportunity in Winnipeg's Daniel McIntyre neighbourhood. With 731 sqft of living space and an unrenovated basement, it is notably smaller than most homes locally and citywide. The assessed value is significantly below average, reflecting its modest scale and condition. The lot, while smaller than typical city lots, is in line with the neighbourhood's urban fabric.
Its primary appeal lies in its accessibility and potential. The very low assessed value and previous sale price point to an entry point into the market that is increasingly rare. It suits a specific buyer: someone seeking a minimal property tax base, an investor looking for a foundational asset, or a hands-on individual viewing the home as a blank canvas for gradual, sweat-equity improvements. It’s less suited for those needing immediate move-in readiness or ample space. A thoughtful perspective is its location on a street with many similar, closely spaced properties, which can foster a sense of community and makes its below-average metrics less atypical for the immediate block.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
While the home is small and older, its sustained structure since 1910 suggests it is likely habitable. The decision to renovate or rebuild would depend on a buyer's goals, budget, and a professional inspection, but its low price point does not inherently mandate a full rebuild.
2. Why is the assessed value so much lower than the city average?
The assessed value is based primarily on the home's very modest size, its age, and the condition of its finishes and systems. It is assessed for what it currently is, not for its potential after renovation.
3. What are the implications of an unrenovated basement?
This typically indicates original or older foundational elements, mechanical systems, and finishes. It may be functional for storage or utilities but will likely require significant work for finishing or updating essential services like wiring or plumbing.
4. Who would this property suit best?
It is best suited for a first-time buyer or investor comfortable with a project, prioritizing low initial cost over modern comforts. Its scale also appeals to those seeking a minimalist footprint.
5. How does the lot size affect future plans?
At 2,338 sqft, the lot is smaller than the Winnipeg average but standard for the area. It allows for a yard but may have limitations for large additions or detached structures, depending on zoning bylaws.