Property Overview: 325 Lilac Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Earl Grey, built in 1911, presents a classic character property with practical updates. Its key feature is a renovated basement, adding valuable finished living space to the 1,462 sqft footprint. The home sits on a notably generous lot for the immediate street—over 3,200 sqft—offering above-average outdoor space in a mature neighbourhood. A detached garage provides additional storage or workshop potential.
The appeal lies in its balance of historic charm and modern livability, situated in a well-established area. The data suggests it's a home that feels spacious within its local context, particularly on its street and in Earl Grey, where its living area ranks in the top 21%. Its recent sale history indicates active market interest.
This property would suit a buyer looking for a home with character in a central neighbourhood, who values a larger lot and is perhaps willing to embrace the ongoing care that comes with a century-old home. It’s also a sensible fit for someone who prioritizes usable space—both with the finished basement and the detached garage—over a brand-new build.
Section 2: Frequently Asked Questions
Q: How does the home’s age typically affect ownership?
A: A 1911 home offers charm and solid construction, but buyers should budget for potential updates to older systems (like plumbing or wiring) and anticipate maintenance consistent with its age. A thorough inspection is essential.
Q: The assessed value seems low compared to recent sale prices. Why?
A: Municipal assessed value for tax purposes often lags behind current market values. The recent sale prices are a more accurate reflection of the home’s present market worth.
Q: What does the "above average" lot size mean practically?
A: Ranking in the top 14% for land area on its street means you get more private outdoor space than most neighbours—a rarity in older areas—ideal for gardening, play, or entertaining.
Q: Is the renovated basement a legal suite?
A: The listing notes a "renovated basement" but does not specify it as a legal rental suite. Buyers interested in rental income should verify its status with the city and ensure it meets all safety and zoning requirements.
Q: How does this home compare to others in Winnipeg overall?
A: City-wide data shows it’s an average-sized home but on a smaller-than-typical urban lot. Its true comparables are in its own neighbourhood, where it stands out for its living space and lot size, offering more house and yard for the area.