396 Belvidere Street

Property Summary: 396 Belvidere Street, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home in Deer Lodge, built in 1918, presents a practical opportunity. Its 1,254 sqft living space and 4,808 sqft lot are squarely average for the immediate area, offering comfortable, established proportions. A key feature is the renovated basement, adding functional living space. The home’s primary appeal lies in its value proposition. With an assessed value significantly below local and city averages, it stands out as an accessible entry point into a mature neighborhood. This isn’t a modern, high-spec property; its charm is in its straightforward, no-garage simplicity and potential. It would suit a first-time buyer, an investor looking for a rental property, or a downsizer seeking a lower-maintenance home without leaving the community. A thoughtful perspective is that its below-average assessment, while indicating modesty, could also represent a lower property tax burden—a practical, long-term advantage. The data shows a notable sale history, with a significant price correction between 2018 and 2021, suggesting the current asking price may reflect a more stabilized and realistic market value.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The assessed value is a municipal valuation for tax purposes and can be influenced by many factors, including the home’s age, condition, size, and specific improvements. While it is notably below averages on the street and in Deer Lodge, it should be verified against the current market asking price and recent comparable sales.

2. What does "one & 1/2 storey" mean for layout?
Typically, this style features a main floor with principal rooms and a second floor under sloping roof lines, which may have smaller rooms or cozier ceilings. It’s characteristic of many early 20th-century Winnipeg homes and offers a classic, efficient footprint.

3. Is the lack of a garage a major drawback?
For some buyers, yes. However, in mature neighborhoods like Deer Lodge, on-street parking is common. The trade-off is often a larger, more private yard, as the full lot area is not occupied by a driveway or garage pad.

4. The sale history shows a big price drop. What does that indicate?
The sale price in early 2018 was significantly higher than in late 2021. This could reflect broader market shifts, changes in the property’s condition, or unique circumstances of those sales. It underscores the importance of a current home inspection and reviewing very recent neighborhood sales for accurate comparison.

5. Are older homes like this expensive to maintain?
A 1918 home will likely require diligent upkeep. While the basement has been renovated, prospective buyers should budget for ongoing maintenance typical of a century-old structure, such as potential updates to windows, roofing, or mechanical systems. The renovated basement is a positive, but a thorough inspection is essential.