Property Overview
This one-and-three-quarter storey home on Arlington Street presents a distinct opportunity in Winnipeg's Dufferin neighbourhood. Built in 1907, it features 1,080 square feet of living space and sits on a 2,226 sqft lot, with a detached garage. Key details include an unrenovated basement and a recent sale price of $100k in August 2023.
Key Characteristics & Appeal
The primary appeal of this property lies in its position as an entry-point investment or a foundational project. With an assessed value significantly below area averages, it offers a very low barrier to entry for a detached home. Its appeal is not in its current condition but in its potential; it suits a buyer looking for a canvas—whether that’s a long-term renovation project, a land-value play in a central neighbourhood, or a strategic rental investment after improvements. The compact lot size, while below average, translates to lower maintenance.
This home would best suit a pragmatic buyer: a hands-on renovator comfortable with a century-old home's needs, an investor building a portfolio who sees value beyond the surface, or someone seeking ultimate affordability in a detached housing format. It’s less suited for those seeking move-in-ready comfort or expansive outdoor space.
Frequently Asked Questions
1. Why is the assessed value so much lower than the sale price?
The assessed value for tax purposes is often based on older market data and formulas. The recent sale price of $100k is a clearer reflection of its current market value, which, while still low, accounts for factors like the extremely hot 2023 market.
2. What does "unrenovated basement" typically imply?
This usually indicates the basement retains its original, functional state but lacks modern finishes. Buyers should budget for potential updates to flooring, lighting, and possibly addressing older insulation or mechanical systems to maximize the space.
3. Is the small lot size a major drawback?
It depends on your goals. For a low-maintenance yard or a focused renovation budget on the house itself, it can be an advantage. It may limit expansion possibilities or large garden spaces, which is a trade-off for the central location and affordability.
4. What should I consider with a home from 1907?
Expect the charm and character of older construction, but prioritize inspections for foundational integrity, roofing, wiring, and plumbing. Original features may be present but will likely need updating to modern efficiency and safety standards.
5. Who might be interested in nearby comparable properties with similar low assessments?
These listings often attract a similar pool of buyers: developers, investors, or renovators. Monitoring these can provide insight into the area’s trajectory and the level of competition for such value-driven opportunities.