Property Overview: 418 Albany Street, Deer Lodge, Winnipeg
Key Characteristics & Appeal
This one-storey home at 418 Albany Street is a classic 1950s bungalow that presents a compelling opportunity centered on its generous lot and location. With 884 sqft of living space, the home itself is modest and below the average size for both the Deer Lodge neighbourhood and Winnipeg overall. However, its significant appeal lies in its expansive 5,614 sqft land area, which ranks in the top 8% on its street and top 26% in the neighbourhood. This offers substantial outdoor space and future potential that is increasingly rare.
The home features a renovated basement and a detached garage. Its assessed value is consistent with local averages, suggesting a fairly priced entry point into the market. The property suits first-time buyers seeking a manageable home with room to grow, value-conscious investors attracted by the lot size, or downsizers looking for a single-level layout in an established area. Its appeal is less about the current footprint and more about the solid foundation and the possibilities afforded by a larger-than-average lot in a mature community.
Frequently Asked Questions
1. Is the house too small?
At 884 sqft, the living area is compact. However, the renovated basement provides additional usable space, and the floor plan is typical of efficient, post-war bungalows. The trade-off is the significant outdoor space, which can extend living areas seasonally.
2. What does the lot size actually offer?
A 5,614 sqft lot is a standout feature. It provides ample yard space for gardening, recreation, and privacy. For the future, it may also offer potential for additions, subject to zoning and permitting.
3. How does the assessed value relate to the likely sale price?
The assessed value is for municipal tax purposes and is often lower than market value. The last recorded sale was in 2021. A current market evaluation is essential, as sale price is determined by recent comparable sales, condition, and buyer demand.
4. What is the Deer Lodge neighbourhood like?
Deer Lodge is a long-established, residential neighbourhood in Winnipeg. It typically offers a quiet, community-focused atmosphere with local parks and amenities, appealing to those seeking a stable, mature setting.
5. Are there any concerns with a home from 1950?
While the basement has been renovated, a professional inspection is crucial. It should review the foundational integrity, plumbing and electrical systems (which may be original or partially updated), and the roof to identify any needs for maintenance or modernization.