Property Overview: 366 Albany Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This one-and-a-half storey home, built in 1918, presents a straightforward opportunity in Winnipeg's Deer Lodge neighbourhood. With 983 square feet of living space and a 2,923 sqft lot, its metrics are generally modest and below broader area averages, but it holds a more middle-of-the-pack position on its own street. A key characteristic is its unfinished, unrenovated basement, which offers a blank canvas for future development. There is no garage, and the home last sold in May 2021.
The primary appeal lies in its value-oriented entry point, underscored by a notably low assessed value. It suits a specific buyer: a hands-on purchaser looking for an affordable footprint in a established neighbourhood, who views the home's below-average comparisons not as drawbacks, but as a lower-cost foundation for personalization. The lot size, while smaller than many in the city, is reasonably proportional to the home and typical for the immediate block. A thoughtful perspective is that its older vintage and unrenovated state may appeal to those wishing to avoid the premium often paid for recently updated homes that may still require deeper systemic work.
Frequently Asked Questions
1. What does the assessed value indicate?
The assessed value is significantly below average for Deer Lodge and Winnipeg. This typically reflects the home's age, size, condition, and market factors, and often results in lower property taxes, which is a key consideration for budget-conscious buyers.
2. Is the basement usable?
The basement is noted as unfinished and not renovated. It provides space for utilities and storage, but any finished living area would require a full renovation and investment to meet modern standards.
3. How does this home compare to others on Albany Street?
Compared to homes on its own street, it is more average in terms of living area, year built, and land size. Its most notable difference is its assessed value, which ranks in the lower tier on the street.
4. What is the significance of the lot size?
At just under 3,000 square feet, the lot is below the neighbourhood and city averages. This means smaller outdoor maintenance but also limited space for expansions, additions, or extensive landscaping compared to larger lots.
5. Who might this property not suit?
It may not suit buyers seeking a move-in ready home, those requiring ample indoor space or a garage, or investors looking for a property with immediate rental appeal without upfront renovation investment.