Property Overview: 289 Sackville Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1941, situated on a standard-sized lot in the established Deer Lodge neighbourhood. Its primary characteristic is its modest 631 sqft living area, which is notably smaller than most homes on its street, in the area, and city-wide. However, it features a renovated basement and a detached garage. The home recently sold for $250,000, which is significantly above its assessed value but positioned below average sale prices for comparable properties.
Its appeal lies in its efficiency and potential as an entry point into a mature neighbourhood. It suits buyers seeking a lower-maintenance footprint, such as first-time homeowners comfortable with a cozy layout, downsizers looking to rightsize, or investors interested in a property with a recent, modernized basement suite (subject to verification). The value proposition is less about space and more about location and lot value, offering an opportunity to own a detached home in Winnipeg without the premium for square footage. A thoughtful perspective is that this property represents the "land and location" component of real estate, with the existing structure serving a practical, no-frills purpose.
Frequently Asked Questions
1. Why is the sale price so much higher than the assessed value?
Assessed values in Manitoba are for tax purposes and often lag behind current market conditions, which are driven by buyer demand, recent renovations, and comparable sales.
2. How usable is the renovated basement?
The listing notes a renovated basement, which adds functional space. Buyers should verify the quality of the renovation, ceiling height, necessary permits, and whether it is configured as a legal secondary suite.
3. Is the small living area a major drawback?
It depends on lifestyle. For one or two people, it can be efficient and cost-effective to heat and maintain. It may feel cramped for a family or those who work from home without utilizing the basement space.
4. What is the Deer Lodge neighbourhood like?
Deer Lodge is a long-established, residential neighbourhood in Winnipeg. It typically offers a quiet, community-focused atmosphere with local amenities and older, character homes.
5. What are the long-term prospects for a home of this size?
While the smaller size may limit appeal to a specific segment of the market, the lot size and location in a stable neighbourhood are enduring values. Future potential could include further expansion or redevelopment, subject to local zoning regulations.