Property Overview: 348 Mandeville Street, Deer Lodge, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1918, presents a classic character home opportunity in the established Deer Lodge neighbourhood. Its key appeal lies in a balanced mix of vintage charm and practical potential. With 1,170 sqft of living space, the house is reasonably sized for the area, but the standout feature is the land: a 4,884 sqft lot that is notably larger than many on its street, offering valuable outdoor space and future flexibility.
The home’s assessed value is positioned below average for the area, which often indicates a property ripe for updates or a value-conscious entry point into the neighbourhood. It features a basement (not renovated) and a detached garage. The appeal here is for the practical visionary—a buyer who appreciates the solid bones and generous lot of an older home and sees the value in personalizing it over time. It would suit a first-time buyer looking for a project, an investor interested in the long-term value of land in a stable area, or someone seeking a home where they can build equity through thoughtful renovations.
Section 2: Frequently Asked Questions
1. What does "below average assessed value" really mean for a buyer?
It typically suggests the property is valued lower than comparable homes, often due to factors like its age or condition. This can mean a more affordable purchase price and property taxes, but buyers should budget for potential updates or maintenance an older home may require.
2. How significant is the larger lot size?
A lot size in the top 20% for the street is a considerable asset. It provides more private outdoor space than neighbours, potential for gardening or expansion, and is a key factor in the property's long-term value, as land is a finite resource.
3. What should I know about a home built in 1918?
While offering classic charm, a home of this age will have older building materials and systems. A thorough inspection is essential to understand the condition of the foundation, wiring, plumbing, and insulation. The "not renovated" basement note underscores the importance of checking for moisture issues.
4. Is the detached garage a pro or a con?
It depends on preference. A detached garage provides flexible workshop or storage space separate from the house but means dealing with the elements when going between your car and home, a consideration during Winnipeg winters.
5. The home last sold in 2016. Does that matter?
It indicates the sellers have owned for several years, which can be positive. It often means they've maintained the property as a home, not a short-term investment. However, market conditions and prices have changed significantly since then, so current valuation is more important than the old sale price.