Property Overview: 382 Woodlawn Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This 1948 one-and-a-half storey home in Deer Lodge presents a solid, move-in-ready opportunity with recently updated fundamentals. Its key feature is a renovated basement, adding valuable finished space to the 1,303 sqft living area. The home sits on a 4,806 sqft lot with a detached garage. While its size and assessed value are generally average compared to the immediate street and city, it stands out within the broader Deer Lodge neighbourhood, ranking in the top 22% for assessed value. This suggests it may offer better finishes, condition, or lot utility than many area peers. The home sold recently for $350,000.
The appeal lies in its neighbourhood positioning and practicality. Deer Lodge is a mature, established area with a quiet, community-focused feel. This property suits first-time buyers or downsizers looking for a manageable, updated home without the premium of a brand-new build. It’s also a sensible fit for value-conscious buyers who appreciate that the home holds its own well within its specific community context, even if it isn’t a statistical standout citywide. The renovated basement offers immediate flexibility for family, hobby, or rental space (subject to regulations), which is a thoughtful advantage for a home of this era.
Frequently Asked Questions
1. How does the recent sale price compare to the assessed value?
The home sold for $350,000, which is significantly higher than its $34,400 assessed value. This is common, as municipal assessed values in Manitoba are for taxation purposes and often lag behind current market values.
2. Is the lot size a disadvantage?
At 4,806 sqft, the lot is smaller than the average on Woodlawn Street but is close to the average for Deer Lodge and Winnipeg. It provides ample yard space for gardening or recreation without the maintenance burden of a much larger plot.
3. What does the "above average" assessment ranking for Deer Lodge indicate?
Ranking in the top 22% for assessed value in Deer Lodge suggests that, compared to other homes in this neighbourhood, this property is considered by the assessor to be of higher relative worth. This often reflects above-average condition, updates, or desirable lot characteristics specific to the area.
4. Are there any concerns with a home built in 1948?
While the core structure is 78 years old, the renovated basement indicates recent investment. A thorough inspection is always recommended to review the condition of older components like the roof, wiring, and plumbing, which may have been updated over time.
5. What is the significance of the detached garage?
A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or extra storage without impacting the home's living space. It may also present future potential, though buyers should check local bylaws regarding modifications or secondary suite conversions.