Property Overview: 387 Lyle Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Deer Lodge presents a compelling mix of space, location, and value. Its key characteristic is a generous living area of 1,376 sqft, which ranks well above average for both the immediate street and the wider Deer Lodge neighbourhood. This suggests a home that offers more interior room than many in the area. It sits on a notably large lot for Lyle Street at nearly 4,800 sqft, providing ample outdoor space—a relative rarity on its block. The basement has been renovated, adding functional living space. Built in 1951, it is a character home typical of the area’s established streetscapes.
The appeal lies in this balance of above-average interior and land size within a mature, convenient neighbourhood. It suits practical buyers looking for a home with room to grow or simply spread out, without the premium price tag of a brand-new build. The lower assessed value compared to city averages indicates a potentially accessible entry point into the market, appealing to first-time buyers or downsizers seeking value and space over a modern footprint. A thoughtful perspective is that this property offers "hidden" space: while the assessed value is modest, you're acquiring more house and land than is typical for the immediate vicinity, which could be a strategic long-term advantage.
Frequently Asked Questions
1. How does the home’s size compare to the area?
The living space is a standout feature. At 1,376 sqft, it is significantly larger than the average home on Lyle Street (~1,062 sqft) and in Deer Lodge (~1,197 sqft), offering more room than most comparable properties nearby.
2. What does the assessed value indicate?
The assessed value is below the citywide average, which often correlates with a more accessible price point. It's important to note that assessed value is for tax purposes; the market sale price is determined by current buyer demand.
3. Is the lot size a benefit?
Yes, particularly on this street. The lot is over 4,700 sqft, ranking in the top 12% on Lyle Street for land area. This provides generous outdoor space for gardening, play, or entertaining, which is less common on this specific block.
4. What should I know about the 1951 build date?
The home is older than many in Deer Lodge but typical for the character of the neighbourhood. This suggests potential for classic architectural details but also means a thorough inspection is wise to understand the condition of major aging components like the roof, windows, and plumbing.
5. Was the basement renovation permitted?
The listing notes a renovated basement, which adds valuable living space. It is always recommended to verify that any renovations were completed with the proper city permits to ensure they meet building code and safety standards.