Property Overview
This one-and-a-half storey home on Linwood Street in Deer Lodge presents a classic Winnipeg character home with notable modern updates. Its key appeal lies in the combination of a renovated basement, a detached garage, and a solidly above-average assessed value for its immediate area, suggesting strong intrinsic value and potential for future equity. At 1,085 sqft, the living space is modest but functional for the neighbourhood.
The home would suit first-time buyers or downsizers looking for a move-in-ready character home in a well-established area, without the premium price of newer construction. It’s also a practical choice for value-focused investors or buyers who prioritize a renovated lower level and the flexibility of a detached garage over sheer square footage. A thoughtful perspective is that while the home’s size is average for the street, its assessed value ranking in the top 10% locally indicates that municipal assessments recognize qualities—like the renovation or lot desirability—that may not be immediately apparent from the basic specs alone.
Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home was last sold in May 2022 for $245,500, while its current assessed value is $37,600. It’s important to understand that in Manitoba, assessed value is for taxation purposes and is typically a fraction of a property’s market value. The sale price is the true indicator of its worth on the open market.
2. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify with the city if a separate suite is permitted, as this impacts insurance, financing, and regulations.
3. What are the implications of the home being built in 1945?
Built in 1945, the home will have the charm and solid construction of its era but may also have aging components like original plumbing, wiring, or windows. A thorough inspection is advised to understand the condition of these older systems alongside the recent renovations.
4. How does the lot size and garage type affect usability?
The lot is a comfortable 5,047 sqft, offering good outdoor space for a mature neighbourhood. The detached garage provides storage or workshop space but means dealing with snow removal on a separate path in winter, a trade-off for some buyers.
5. What does the "above average" assessed value ranking mean for taxes?
Ranking in the top 9% for assessed value in Deer Lodge suggests the city has valued this property higher than most comparable homes in the area. This typically translates to proportionally higher property taxes, so buyers should budget accordingly.