Property Overview: 340 Conway Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Deer Lodge, built in 1949, presents a practical opportunity centered on its location and lot. With 1,286 sqft of living space, the house itself is above average in size for its immediate street and neighborhood. Its primary appeal lies in its very low assessed value, which is among the lowest on Conway Street, suggesting a potentially accessible entry point into the market. The property sits on a standard-sized lot for the area.
The home suits value-conscious buyers looking for a footprint in a established neighborhood like Deer Lodge, particularly those with renovation or expansion plans. It’s a candidate for buyers who prioritize the potential of the property and location over move-in-ready condition, as the basement is noted as not renovated. The low assessment, while indicating a project, also hints at a correspondingly lower property tax burden, a less obvious financial advantage for a long-term holder.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
The assessed value is for municipal tax purposes and often lags behind current market conditions. The recent sale price of $33,700k is a clearer reflection of the home's current market value.
2. What does "basement not renovated" typically imply?
It usually indicates the basement is in original or utilitarian condition, likely lacking finished living spaces. Buyers should budget for updates and consider inspections for foundational and moisture-related issues common in homes of this era.
3. How does the lot size compare?
At 5,579 sqft, the lot is average for Deer Lodge but is the smallest recorded lot on Conway Street itself. This may mean less backyard space than some neighbors but could also translate to less maintenance.
4. Is the living space adequate for a family?
At above-average size for the street, the 1,286 sqft layout is workable. The one-and-a-half storey style often places bedrooms upstairs, which can be efficient, but the unrenovated basement means any immediate need for additional finished space would require investment.
5. What is the significance of the home's above-average age ranking on the street?
Being built in 1949 makes it newer than many homes on Conway Street. This could suggest slightly more modern construction materials or techniques for its time, though a thorough inspection is still essential to understand its actual condition.