Property Overview & Appeal
This two-storey home on Lilac Street in Earl Grey presents a classic Winnipeg character property with modern updates. Its key characteristic is a renovated basement, adding valuable finished living space to the 1,244 sqft footprint. Built in 1910, the home sits on a standard city lot and does not include a garage or pool.
The appeal lies in its strong positioning within a desirable neighbourhood. The assessed value is notably above average for both Lilac Street and the wider Earl Grey area, suggesting the property is well-maintained and perceived as a solid investment within its locale. It suits buyers looking for a move-in ready character home with some updates already completed, who value the established streetscape of Earl Grey over a large lot or modern garage. A thoughtful perspective is that while the home is older than most in the city, this is typical for the neighbourhood, and the above-average assessment indicates its condition and renovations have kept pace with market expectations.
Frequently Asked Questions
1. How does the living space compare to nearby homes?
At 1,244 sqft, the living area is very close to the average for both Lilac Street and the Earl Grey neighbourhood, offering a comfortable size that is typical for the area.
2. The home was built in 1910. What should I consider?
While the home is older than most in Winnipeg, it is actually typical for the historic Earl Grey area. The renovated basement is a significant plus, but a thorough inspection is always recommended for any century-old home to understand the state of major systems like wiring, plumbing, and the foundation.
3. Why is the assessed value significantly higher than some neighbours?
The assessment is in the top 9% for Earl Grey. This typically reflects recent renovations (like the basement), overall condition, and desirable attributes that the municipal assessor has accounted for, setting it apart from other homes on the street.
4. Is the lack of a garage a major drawback?
This depends on the buyer. Many older homes in central neighbourhoods lack garages. The property does have a driveway space, but buyers who require secure, enclosed parking for vehicles or storage would need to factor this in or explore the feasibility of adding a structure.
5. How does the recent sale price compare to the assessment?
The home sold for $47,100 in June 2023, which was above the assessed value at that time. This indicates the market value at sale exceeded the municipal assessment, a common occurrence in active markets, and provides a recent benchmark for its worth.