Property Overview & Appeal
This 750 sqft, one-storey home on a 4,105 sqft lot in Grant Park presents a compact and efficient living space. Its key characteristic is a renovated basement, adding functional square footage. Built in 1950, it is notably older than many city-wide homes but is among the newer properties on its own street. The appeal lies in its manageability and location within a well-established neighbourhood. It suits first-time buyers seeking an entry point into the market, downsizers looking for a low-maintenance footprint without a basement suite, or practical investors interested in a property with recent updates (the basement) at a value-conscious price point. A thoughtful perspective is that while its living space is below average for the area, this can translate to lower utility costs and less upkeep, focusing investment on location and lot potential rather than maintaining unused rooms.
Frequently Asked Questions
1. Is the home’s smaller living area a concern?
While the 750 sqft living area is below the neighbourhood average, the renovated basement provides additional functional space. This layout can be efficient for individuals, couples, or those comfortable with compact living.
2. How does the assessed value compare to likely market price?
The assessed value is around average for the street but below average for Grant Park and Winnipeg overall. It is a municipal valuation for tax purposes; market value is determined by current buyer demand, condition, and recent sales of comparable homes.
3. What does the sold price history indicate?
The home sold in April 2019 for an estimated range of $20.50k to $23.50k. This historical data provides a benchmark, but market conditions have likely shifted since that time.
4. Are there any major costs or renovations to anticipate?
Given the home's age (76 years), prospective buyers should budget for potential updates to major aging systems, such as plumbing, electrical, or the roof, even with a renovated basement.
5. What are the implications of not having a garage?
The property has no garage. Buyers should consider the cost and feasibility of adding off-street parking or a storage shed, and assess on-street parking availability in the immediate area.