Property Overview
This one-and-a-half storey home on Moorgate Street in Deer Lodge presents a practical opportunity in a well-established Winnipeg neighbourhood. Built in 1949, it sits on a generous 5,600 sqft lot, which is notably larger than many in the immediate area. With 1,074 sqft of living space and a renovated basement, it offers functional space for its size. Its appeal lies in its balance of a mature, sizable lot and an updated lower level within a quiet community. The home last sold in late 2022.
This property would suit a first-time buyer or a downsizer looking for a manageable home with outdoor space without the upkeep of a massive yard. It’s also a sensible fit for a pragmatic investor seeking a character home with a renovated basement suite potential (subject to zoning verification), given its below-average assessed value for the street.
Key Details & Questions
What are the key characteristics?
The home is a 1.5-storey built in 1949 with 1,074 sqft of living space. It features a renovated basement and sits on a 5,606 sqft lot. Its assessed value is $30,800, and it last sold for $34,700 in November 2022.
Where does its main appeal lie?
Its primary strengths are the larger-than-average lot for the street, providing great outdoor space, and the move-in-ready condition of the renovated basement. It’s a home that offers immediate utility without a premium price point for the location.
What type of buyer is this for?
It’s ideal for a first-time homebuyer entering the Deer Lodge area, someone downsizing who values a low-maintenance exterior but still wants garden space, or an investor considering a house with separate suite potential.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers must consult with the city to verify zoning and licensing requirements for rental use.
2. How does the property compare in value to the neighbourhood?
The home’s assessed value is around average for Deer Lodge but is actually below the average for Moorgate Street itself, suggesting it might represent a relative value on its specific block.
3. What does the "Elite" ranking for year built mean?
On Moorgate Street, an "Elite" ranking for the 1949 build year means it is one of the newer homes on a street with many older properties. This can imply potentially fewer immediate major repairs than much older peers.
4. Is the lot size a significant advantage?
Yes. The lot is in the top 27% for size on Moorgate Street, offering more private outdoor space than most direct neighbours—a valuable feature for gardening, play, or expansion.
5. Why is there a difference between the 2022 sale price and the current assessed value?
Assessed values for taxation purposes often lag behind market sale prices and are calculated differently. The sale price reflects what a buyer was willing to pay at that time, while the assessment is a mass appraisal for municipal tax purposes.