Property Overview: 293 Albany Street, Winnipeg
Key Characteristics & Buyer Appeal
This one-and-a-half storey home in Deer Lodge, built in 1918, presents a straightforward opportunity in Winnipeg's housing market. Its key characteristic is its modest scale, with 964 square feet of living space and a 2,499 sqft lot, both below the neighbourhood and city averages. The home has an unrenovated basement and no garage. Its assessed value is notably low, positioning it well below area averages.
The appeal lies in its affordability and potential. The below-average assessment and sale history suggest an accessible entry point into homeownership. It suits first-time buyers, investors, or downsizers comfortable with a home that requires updates. A thoughtful perspective is that its smaller lot and footprint translate to lower maintenance costs and less yard work, which can be a hidden benefit. While not a standout in any single metric, its overall profile is that of a pragmatic, no-frills property where value is derived from the purchase price rather than existing finishes.
Frequently Asked Questions
1. Is this a "fixer-upper"?
The listing notes the basement is unrenovated. Given the home's age and below-average assessment, buyers should anticipate needing updates, potentially beyond the basement, and budget accordingly for maintenance and modernization.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's specific characteristics—its smaller size, older age, and likely condition—compared to the broader market. It indicates this is a more modestly valued home within its area.
3. What are the implications of having no garage?
This means all vehicle parking will be on-street. Buyers should consider Winnipeg's winter climate and any local parking regulations. The lack of a garage also means no additional storage or workshop space on the property.
4. How does the lot size compare?
At 2,499 sqft, the lot is smaller than most in Deer Lodge and Winnipeg. This means a smaller yard, which can be easier to manage but offers less private outdoor space.
5. Who would this property suit best?
It is best suited for a budget-conscious buyer seeking a foothold in the market. This could be a first-time homeowner willing to make gradual improvements, an investor looking for a rental property, or someone downsizing who prefers a compact, low-maintenance layout. It is less suited for those seeking a move-in-ready home or extensive outdoor space.