Property Overview: 407 Albany Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Deer Lodge offers a practical and comfortable living space with notable advantages in its immediate area. Built in 1974, it is a newer construction compared to many homes on its street and in the established neighbourhood. With 1,215 sqft of living area and a recently renovated basement, it provides ample space for a small family, downsizers, or an investor. A key feature is the detached garage and the generous, nearly 5,000 sqft lot, which is significantly larger than many neighbouring properties, offering valuable outdoor space and potential.
The home’s primary appeal lies in its strong positional value within a specific context. While its metrics are around the city-wide average, it consistently ranks above average for its street and neighbourhood in key categories like living area, assessed value, and land size. This suggests a property that stands out positively in its local market. The recent sale in August 2024 indicates a modern, market-refreshed value.
It would suit a first-time buyer seeking a move-in-ready home with a low-maintenance layout, a downsizer looking for single-level living with a sizable yard, or a pragmatic buyer who values a property that outperforms its immediate peers on core metrics like lot size and modernity.
Frequently Asked Questions
1. How does this home compare to others in Deer Lodge?
The data shows it compares favourably. It’s newer than 94% of homes in Deer Lodge, has above-average living space and assessed value for the area, and sits on a lot size that is typical for the neighbourhood.
2. What is the significance of the lot size?
At 4,997 sqft, the lot is in the top 16% for size on Albany Street. This is a less obvious advantage that provides more private outdoor space than direct neighbours, room for gardening, play, or future additions like a shed or deck, which is a premium in established communities.
3. The assessed value seems low compared to the recent sale price. Why?
Municipal assessed value (33.70k) is for tax purposes and is typically much lower than market value. The market-determined sale price of 320k in August 2024 is the relevant figure for current value.
4. What type of buyer would this layout best suit?
The one-storey (bungalow) style with a renovated basement is ideal for those seeking minimal stairs, offering easy living for young families, empty-nesters, or anyone with mobility considerations. The basement adds flexible space for recreation, a home office, or guest quarters.
5. Is the detached garage a plus or a minus?
This depends on preference. A detached garage provides excellent storage or workshop space separate from the house. For some, it’s a benefit for hobbies or parking. For others, who prioritize the convenience of an attached garage in Winnipeg winters, it would be a consideration to note.