Property Overview
This 1951 one-storey home at 439 Lyle Street in Winnipeg's Deer Lodge neighbourhood presents a practical and affordable entry point into the market. Its key appeal lies in its balance of a renovated basement, a manageable size, and a lot that is generous for the immediate area. At 994 sqft of living space, the house is compact but typical for Lyle Street itself. The 4,793 sqft lot offers good outdoor space, ranking above average for the street. The home’s assessed value is notably below average for the area, which can signal an opportunity for value-conscious buyers, though it may also reflect the home’s smaller size or specific condition. A significant data point is its 2021 sale price of $240k, which was considerably higher than its current assessed value, suggesting a market perception of value beyond the assessment at that time.
This property would suit first-time buyers or downsizers looking for a single-level living option in a mature, established neighbourhood without a large upfront investment. Its below-average assessments for the area and city could mean lower property taxes relative to nearby homes. A thoughtful perspective is that while the home is older, its 1951 build date is actually newer than many in Deer Lodge, potentially meaning fewer issues common to much earlier construction. The lack of a garage is a trade-off for the lot size, making it better suited for those who prioritize yard space over vehicle storage.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.
2. Why is the current assessed value so much lower than the 2021 sale price?
Municipal assessments for taxation don't always align directly with market sale prices, which can be influenced by factors like recent renovations, market conditions at the time of sale, and buyer demand. This discrepancy warrants a closer look at the home's current condition and market valuation.
3. What are the typical property taxes?
With an assessed value of $28,700, the property taxes would be calculated based on Winnipeg's mill rate. Taxes should be significantly lower than on a home assessed at the neighbourhood average of ~$31,300, but exact figures should be confirmed.
4. What is Deer Lodge like as a neighbourhood?
Deer Lodge is a mature, residential neighbourhood in Winnipeg. It offers a quiet, community-focused atmosphere with local amenities and parks, and is generally attractive to those seeking a established area without being in the core of the city.
5. How does the lack of a garage affect parking and storage?
The property has no garage. Buyers should plan for on-street parking and consider the basement renovation and shed potential (if any) for compensating storage needs. The larger lot may offer space for a future garage, subject to local bylaws.