Property Overview: 1699 Arlington Street
This one-and-a-half storey home, built in 1929, presents a practical opportunity in Winnipeg’s Inkster-Faraday neighbourhood. With 1,020 square feet of living space, a renovated basement, and a detached garage, it sits on a standard city lot of just under 3,000 square feet. Its assessed value is notably above average for the immediate area, suggesting it may be in better condition or have more updates than many neighbouring homes. The appeal here is grounded in its relative value within its community—it’s a home that stands out locally without a city-wide premium price tag. It would suit a first-time buyer looking for a solid, no-frills starter home with some modern touches, or an investor seeking a manageable rental property in an established neighbourhood. A thoughtful perspective is that this property represents the "local premium" phenomenon: while its metrics are modest city-wide, its strong standing within Inkster-Faraday indicates a well-kept asset in its specific context, which can be a sign of stability and pride of ownership on the street.
Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The assessed value of $25,300 is for municipal tax purposes. Market value is determined by current sale prices. The last recorded sale was between $24,500 and $27,500 in mid-2021. A current appraisal or comparative market analysis would be needed for an accurate today’s value.
2. What does the "renovated basement" include?
The listing notes a renovated basement but does not specify the scope. This should be verified during a viewing. Key questions would be whether it is a legal suite, the quality of finishes, the ceiling height, and if necessary permits were obtained for the work.
3. Is the home typical for the street and area?
In terms of size, age, and lot, it is very typical for Arlington Street and Inkster-Faraday. Its assessed value, however, ranks in the top 13% for the neighbourhood, which is less typical and suggests it may have features or condition that exceed the area norm.
4. What are the implications of a 1929 build date?
This age brings character but also requires diligent inspection for aging components. Prospective buyers should pay special attention to the foundation, plumbing, electrical systems, and insulation. The positive trade-off is often more solid construction and larger lot sizes than newer homes in this price range.
5. Why is the city-wide comparison so different from the neighbourhood comparison?
This highlights the variation in Winnipeg’s housing market. The home’s metrics are average or above for its own community but fall below the city-wide average, which is skewed by newer, larger homes in suburban developments. This isn’t necessarily negative; it indicates you are buying into an older, established urban neighbourhood at a proportional price point.