Property Overview
This one-and-a-half storey home on Albany Street in Deer Lodge presents a classic Winnipeg character home opportunity. Built in 1918, it offers 866 sqft of living space with an unfinished basement and a detached garage on a 2,500 sqft lot. The home last sold in 2021 for $200,000 and currently holds an assessed value of $210,000.
Key Characteristics & Appeal
The primary appeal of this property lies in its position as a relatively affordable entry point into the established Deer Lodge neighbourhood. Its lot size and living area are modest, particularly when compared to broader area averages, which suggests a lower-maintenance footprint. The home’s age (108 years) means it offers classic charm but also implies that updates and systems replacements may be a consideration. Its assessed value sits well below averages for both the neighbourhood and the city, which can be attractive for property tax purposes.
This home would suit a first-time buyer, an investor, or a downsizer comfortable with a project. It’s for someone who values location and character over modern square footage, and who is prepared to invest in gradual updates. A thoughtful perspective is that its smaller scale and below-average assessment could represent a manageable holding cost while adding value through thoughtful, incremental renovations.
Frequently Asked Questions
1. What does the "below average" ranking for land area mean for me?
At 2,500 sqft, the lot is smaller than most in Deer Lodge. This typically means less exterior maintenance and yard work, but also limited space for expansions or large additions.
2. The home is noted as having an unfinished basement. What potential does this offer?
An unfinished basement provides flexible storage or utility space. It also represents a clear opportunity for future expansion (subject to permits and codes) without the need to demolish existing finished rooms.
3. How should I interpret the assessed value being significantly lower than city averages?
A lower assessed value generally leads to lower municipal property taxes, which is a financial positive. It does not directly dictate market sale price, but it can indicate the home is a more modest offering compared to broader market norms.
4. The home was built in 1918. What are the key considerations for a house of this age?
While offering character, key focuses should be the condition and age of major systems (plumbing, electrical, roof, foundation) and the presence of historical materials like lead paint or plaster. An inspection is crucial to budget for necessary updates.
5. The data shows sales in 2019 and 2021. What does this recent activity suggest?
Frequent sales can indicate a property seen as a good "starter" home or investment, often bought, held for a short period, and then sold as owners move on. It’s worth investigating the reasons for the past sales.