Property Overview: 263 Woodlawn Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1918, presents a classic character home opportunity in the established Deer Lodge neighbourhood. With 1,136 sqft of living space, its size is comfortably average for the area. A key feature is the detached garage, adding practical storage or workshop potential. The home sits on a 4,798 sqft lot, which is smaller than many on its street but still offers decent outdoor space for a mature neighbourhood.
The primary appeal lies in its value proposition and potential. The home’s assessed value is notably lower than area averages, which can translate into a more accessible entry point into the market. It suits a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who is comfortable with a property that may require updates. The unrenovated basement signals a blank canvas for finishing to suit one's needs. Its recent sale history suggests it’s a actively traded property, indicative of a neighbourhood with steady demand. This isn’t a move-in-ready showcase; its charm is rooted in solid fundamentals, location, and the opportunity to add value through thoughtful modernization over time.
Frequently Asked Questions
1. What does "below average" assessed value really indicate?
It primarily means the city’s assessment for tax purposes is lower than many comparable homes. This can be due to the home’s age, condition, or specific features. It often results in relatively lower property taxes, which is a financial positive, but it also suggests the home may not have seen recent major renovations that increase assessed value.
2. Is the smaller lot a significant drawback?
While the lot is smaller than others on Woodlawn Street, it is closer to the city-wide average. For many buyers, a ~4,800 sqft lot in an older neighbourhood is ample for a garden, patio, and children’s play area without the maintenance burden of a much larger yard. It’s a trade-off that prioritizes location over expansive private land.
3. Who would the "one-and-a-half storey" layout suit best?
This style typically features main-floor living areas and bedrooms, with additional finished or finishable space in the upper half-storey. It’s efficient to heat and can be ideal for smaller households, couples, or those who prefer to avoid the full staircases of a true two-storey home. The upper area often works well as a primary suite or flexible space.
4. The home sold recently in 2024 and 2019. What does that suggest?
Frequent sales can indicate a few things: it may be a reliable rental property for investors, a popular "starter home" that people move on from, or a property whose value and condition attract buyers looking for a project. It shows the home is consistently marketable.
5. What are the less obvious considerations with a 1918 home?
Prospective buyers should budget for and investigate the state of major aging systems: the roof, foundation, plumbing, and electrical wiring. While charm abounds, the unrenovated basement is a key area to inspect for moisture issues or insulation needs. The upside is that older homes of this era often feature solid construction and materials not found in newer builds.