Property Overview
This one-and-a-half storey home on Arlington Street, built in 1904, presents a straightforward opportunity in Winnipeg's Dufferin neighbourhood. Its key appeal lies in its uncommonly large lot of 1,857 sq ft, which ranks in the top tier for the street and area, offering significant outdoor space relative to the home's 704 sq ft living area. While the home itself is compact and features an unrenovated basement, its assessed value is notably low. This combination suggests a property with its value primarily in the land. It would suit a buyer looking for a foundational investment—perhaps a first-time buyer comfortable with a project, an investor interested in the long-term land value, or someone seeking to build equity slowly in a central location. A less obvious perspective is that this home, given its age and condition, may appeal to those interested in historical preservation on a modest scale, offering a chance to gradually restore a piece of the city's early 20th-century fabric.
Frequently Asked Questions
1. What does "assessed value" mean, and why is it so much lower than nearby properties?
The assessed value is the city's valuation for property tax purposes, often based on mass appraisal models and recent sales. A significant gap between this and market value or neighbouring assessments can indicate the city views the property's current state as very basic, or it may not have been recently reassessed following market changes. It's crucial to get a professional appraisal for financing or purchase decisions.
2. The lot is large, but the house is small. What are my options?
The sizable lot is the standout feature. While the existing home can be lived in and improved, the lot size could eventually allow for an expansion, a new build (subject to zoning), or simply the preservation of generous yard space in an area where that is rare. This flexibility is a key part of the property's long-term appeal.
3. The home was last sold in 2020. What should I consider?
A sale just a few years ago suggests a relatively quick turnaround. It’s wise to inquire about the reason for the sale and to understand what, if any, changes have been made since then. This history can provide context on the property's condition and the neighbourhood's market dynamics.
4. The basement is noted as "not renovated." What should I expect?
This typically means the basement is in its original or utilitarian state, likely with concrete walls and floors, and may be suited only for storage or basic mechanical systems. It should be inspected for moisture issues, foundation integrity, and the condition of older systems like plumbing or wiring that may run through it.
5. How do the "rank" statistics work?
These ranks compare this property against others on the same street, in the neighbourhood, and across Winnipeg. For example, a "Top 0%" rank for lot size means this property has a larger lot than 100% of the compared properties—it's the largest. Conversely, a "Top 1%" rank for year built means it is older than 99% of compared properties. They are useful for understanding this home's relative strengths and weaknesses at a glance.