Property Overview: 381 Gagnon Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home in Winnipeg's Glendale neighbourhood, built in 1963. With 1,184 sqft of living space and a recently renovated basement, it offers functional, no-frills living on a good-sized lot of nearly 6,000 sqft. The home lacks a garage or pool.
Its primary appeal lies in its value proposition and potential. The assessed value is notably low compared to the immediate street and city-wide averages, which can suggest an entry-level price point in a stable neighbourhood. The renovated basement adds modern, functional space without the need for immediate work. The lot size is a solid asset, offering ample outdoor space relative to the home's footprint.
This property would suit first-time buyers or practical downsizers looking for an affordable foothold in the community. It’s a straightforward home for someone comfortable with a 1960s build who prioritizes lot size and living space over high-end finishes or extra features like a garage. A thoughtful perspective is that the below-average assessment, while indicating a lower market value, could also represent a relative tax advantage compared to neighbouring properties.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Property assessments are for taxation purposes and are based on a mass appraisal system. A significantly lower assessment can reflect the home’s age, specific condition, or features compared to the broader market, but it doesn't directly predict sale price. It often indicates a more affordable entry point.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the quality of finishes, permits, and whether it includes added bedrooms or legal suites, as this significantly impacts value and utility.
3. What are the implications of not having a garage?
This means relying on street parking or adding a shed or carport for storage. For some buyers, this is a worthwhile trade-off for a lower purchase price, but it's a practical consideration for vehicle storage and winter weather.
4. How does the home's age (1963) affect things?
While systems like roof, plumbing, and wiring may have been updated, a home of this age may still require attention to original components. The recent basement renovation is a positive, but a thorough inspection is always recommended for older homes.
5. The sold price history shows a sale in 2019. What can be inferred?
The listed sale range from 2019 provides a historical benchmark, but market conditions have likely changed. It’s most useful for understanding the property’s price trajectory rather than determining its current value.