Property Overview: 307 Truro Street, Deer Lodge, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1946, situated on a notably generous lot for its Truro Street location. With 686 sqft of living space, the house itself is smaller than most in the area, city, and even on its own street. However, it features a renovated basement and a detached garage. Its primary appeal lies in its land value and location. The property occupies a 4,388 sqft lot, which is larger than average for the immediate street and neighbourhood, offering potential for expansion, gardening, or outdoor living that is uncommon for homes of this size. The assessed value is modest and in line with area averages, suggesting a relatively accessible entry point into the Deer Lodge community.
This home would best suit a first-time buyer, downsizer, or investor seeking a low-maintenance footprint with the added benefit of a sizable yard. It’s a practical choice for someone who values location and land over square footage, and who sees potential in the existing renovations (like the basement) or in the possibility of future updates. The large lot relative to the house size is its standout, less obvious feature, providing a tangible asset that many similarly priced properties lack.
Section 2: Frequently Asked Questions
1. Is the house too small for practical living?
At 686 sqft, the living space is compact. Its suitability depends heavily on the occupant's lifestyle. For a single person, couple, or someone downsizing, the renovated basement adds crucial functional space, making it more workable than the main floor square footage alone suggests.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A prospective buyer should inquire about the finish quality, ceiling height, permits, and whether it includes a bathroom or legal egress, as this significantly impacts the home's usable space and value.
3. Why is the assessed value so much lower than the city-wide average?
The city-wide average includes all property types and sizes across Winnipeg. This home's assessed value is based on its specific attributes: smaller living area, older age, and its location. It is assessed in line with or slightly below averages for the Deer Lodge neighbourhood, which is typical for homes of this scale.
4. What are the advantages of such a large lot for a small house?
The large lot (4,388 sqft) offers rare potential in an established neighbourhood. It provides ample private outdoor space, room for additions like a deck or shed, better drainage and distance from neighbours, and long-term potential for expansion, subject to zoning bylaws.
5. How does the last sale price (2016, $22.5k) relate to today's value?
The 2016 sale price is a historical data point and reflects the market conditions of that time. The current assessed value for taxation ($28.5k) is a more recent administrative valuation, but the true market value is determined by current supply, demand, and the property's condition, which would be established through a professional appraisal or the listing price.