Property Overview: 307 Winchester Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a classic character home opportunity on an exceptionally large lot. Its primary appeal lies in the combination of a generous, mature property and a solid, vintage structure, offering significant potential for customization.
The home itself is of a comfortable size (1,427 sqft) and features a detached garage and a full, unrenovated basement. While the interior may require updating, the assessed value is strong for the street and neighbourhood, suggesting the underlying value is well-recognized. The standout feature is the land: at over 12,000 sqft, the lot size is in the top 1% for both the immediate street and the wider Deer Lodge area. This offers rare privacy, space for gardens, and future expansion possibilities not commonly found in the city.
This property is ideally suited for a specific buyer: someone looking for a project who values land and location over move-in-ready finishes. It would appeal to a hands-on homeowner, an investor with a vision for renovation, or a family prioritizing outdoor space and the charm of an established neighbourhood like Deer Lodge. It’s a property where the value is as much in what you can create as in what currently exists.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It generally means the basement is in its original or functional state, without finished walls or modern amenities. It offers utility space and significant potential for future development, but any renovation would be a project for the new owner.
2. The home is older—what should I consider?
Built in 1914, the house will have the character and construction methods of its era. Prospective buyers should budget for potential updates to systems like wiring or plumbing and consider an inspection to understand the condition of the original structure, which can be very solid but may require maintenance.
3. How significant is the lot size?
Extremely significant. A 12,000 sqft lot in this area is a rare find. It provides ample yard space, greater distance from neighbours, and options not available on standard lots, such as adding a workshop, extensive landscaping, or even an addition (subject to zoning).
4. The assessed value seems high compared to the sale history. Why?
The last sale was in 2019. The current assessed value reflects the municipality's valuation of the property in its present state, considering market trends and the exceptional land value. It indicates the perceived worth of the asset, which can differ from a past sale price due to market appreciation and the unique lot.
5. Is the detached garage a major benefit?
Yes, especially for a character home. A detached garage provides secure parking and valuable storage or workshop space without compromising the layout of the main house. It’s a practical asset that adds to the property's utility.