Property Overview
This 1923 one-and-a-half storey home at 525 Giroux Street in Winnipeg's Dufresne neighborhood presents a compelling mix of classic charm and practical updates. Its key appeal lies in its generous 6,225 sqft lot, which ranks in the top 3% of the local area, offering exceptional outdoor space and potential in a city where larger lots are increasingly rare. The home itself, with 1,304 sqft of living space and a renovated basement, is above average in size for both its street and neighborhood. While its age is notable, the property carries an assessed value that is above average for its immediate surroundings, suggesting it is well-positioned within its market.
The home would suit a buyer looking for a character property with room to grow, garden, or entertain outdoors. It’s ideal for those who value space over new construction and are comfortable with the maintenance considerations of a century-old home. A thoughtful perspective is that this property offers a "land bank" opportunity in a mature neighborhood; the lot itself is a significant asset that could appreciate independently of the structure, appealing to future-minded buyers.
Frequently Asked Questions
1. How does the home's age impact insurance and maintenance?
As a home built in 1923, buyers should budget for potential maintenance items common to older houses, such as updates to plumbing or electrical systems. It's advisable to seek a thorough inspection and discuss insurance options, as some providers may have specific requirements for heritage-era properties.
2. What does the "above average" assessed value for the area indicate?
The assessed value of $310k ranks above average for both Giroux Street and the wider Dufresne area. This typically reflects the property's larger lot and living space compared to nearby homes, suggesting it is viewed as a premium offering in its immediate locale, even if it's around average citywide.
3. The lot size is a standout feature. Are there any usage restrictions?
While the lot is exceptionally large for the area, buyers should verify zoning bylaws with the city if they have specific plans, such as adding a secondary suite, a large garage, or other significant structures, to ensure compliance.
4. The basement is noted as renovated. What does that include?
The listing confirms a renovated basement, which generally means finished living space. However, specifics on the quality, permits, and the nature of the renovation (e.g., moisture control, ceiling height, legal egress) should be confirmed with the seller or during a viewing.
5. The home last sold in 2017 for $285,000. How does that inform the current value?
The 2017 sale price provides a historical benchmark. The increase to the current $310k assessment reflects market changes over seven years and the property's attributes. It’s a useful data point for understanding the trend, but the current market value will be determined by present-day conditions and buyer competition.