Property Overview
This one-and-a-half storey home on Woodlawn Street in Deer Lodge presents a solid, no-fuss opportunity in a mature Winnipeg neighbourhood. Built in 1948, it features 1,280 sqft of living space, a renovated basement, and a detached garage on a 4,805 sqft lot. It sold in February 2024 for $280,000. The appeal here is grounded in its practicality. The home sits comfortably in the middle of the pack for its area in terms of size, value, and lot, offering a sense of stability without premium pricing. Its renovated basement adds functional living space, a key update for a home of this era. This property would suit first-time buyers seeking a move-in-ready character home without extreme renovation projects, or practical investors looking for a stable rental in an established community. A less obvious perspective is that its very "averageness" for the street and area is a strength—it suggests a predictable investment in a neighbourhood unlikely to see dramatic swings, appealing to those who value consistency over high-risk, high-reward scenarios.
Frequently Asked Questions
Is this a good value compared to other homes on the street?
Based on the latest sale, the price positioned it in the top 68% for value on Woodlawn Street, meaning it sold for more than many direct neighbours. This suggests the market recognized factors like the renovated basement.
What does the "around average" ranking mean for key features?
The home consistently ranks between the 37th and 67th percentiles for its area across size, lot, and value. This indicates it is a typical, representative home for Deer Lodge—neither the largest nor the smallest, which can mean fewer surprises for a new owner.
How does the assessed value relate to the sale price?
The home sold for $280,000 against a $31,400 assessed value. It's important to understand that municipal assessed value for taxation purposes is a formula and often lags significantly behind current market sale prices, which are determined by buyer competition.
What are the implications of a 1948 build date?
The home is older than the Winnipeg city average. Buyers should prioritize a thorough inspection focusing on updates to core systems (like plumbing, electrical, and insulation) that may be due for replacement due to age, even if the basement itself is renovated.
What is the neighbourhood character of Deer Lodge?
Deer Lodge is a long-established, quiet residential area. The lot size is slightly below the street average, but still provides decent outdoor space. The proximity to other similar-era homes suggests a stable, settled community feel.