Property Summary: 341 Woodlawn Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1918, is a classic Deer Lodge character property with practical updates. Its key feature is a renovated basement, adding valuable finished living space to the 1,118 sqft main footprint. The home sits on a standard, manageable lot of just under 5,000 sqft and includes a detached garage.
The appeal lies in its position as a more affordable entry point into a well-established neighbourhood. While its living space, assessed value, and year built are below the averages for its immediate street and area, this translates to a potentially lower price point for a home with modernized essentials. It suits first-time buyers or downsizers seeking a character home without a massive footprint or yard to maintain. The renovated basement is a significant plus, offering flexibility for a family room, home office, or guest space. A thoughtful perspective is that a home with below-average assessments on a street of higher-valued properties can represent a value opportunity for renovation-minded buyers, allowing them to add value in a desirable location.
Frequently Asked Questions
1. What does "below average" assessed value mean for a buyer?
It typically indicates the home is valued lower than most comparable properties in the area, often due to size, age, or condition. This can be a positive, suggesting a more affordable purchase price and potentially lower property taxes, but it's wise to understand the reasons behind it during a viewing.
2. Is a 108-year-old home a concern?
It means the core structure is proven, but it necessitates a focused inspection. Key areas to scrutinize would be the foundation, original plumbing and electrical updates, and roof condition. The renovated basement is a positive sign of recent investment.
3. What are the implications of a detached garage?
It provides secure storage and parking but means dealing with the elements when going between your car and house. For some, this is a minor trade-off for the classic layout it allows on the lot.
4. The home last sold in June 2022. Should I be concerned?
A recent sale isn't inherently a red flag. It's important to ask why the current owners are moving so soon. It could be due to life circumstances, or it may warrant extra diligence during the inspection to see if any issues have prompted the sale.
5. How does the living area compare to nearby homes?
At 1,118 sqft (plus the renovated basement), it's notably smaller than the average home on Woodlawn Street. This confirms it's a more compact, manageable property. The basement renovation effectively increases the usable space, making the overall package more competitive.