Property Overview: 670 Lanark Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on a generous 6,598 sqft lot presents a straightforward opportunity in Winnipeg’s J.B. Mitchell neighbourhood. Built in 1955, its 1,048 sqft living area and unrenovated basement reflect a home that is functional and waiting for personalization. The detached garage adds practical utility.
The primary appeal lies in its land value and positioning. The lot size is notably above average for both the immediate street and the wider area, offering more outdoor space than many comparable properties. With an assessed value that sits below the neighbourhood average, it represents a potentially accessible entry point into the market. This isn’t a move-in-ready showcase, but a grounded proposition for a buyer who sees value in space and foundation over finish.
It would best suit a practical buyer—perhaps a first-time homeowner comfortable with gradual updates, an investor looking for a land-play, or someone seeking a manageable footprint with room to garden or expand outdoors. Its average-sized living space and below-average assessment for J.B. Mitchell suggest it’s a home for living simply, not for luxury.
Frequently Asked Questions
1. What is the true market value likely to be?
While the assessed value is approximately $33,500, recent sale data from August 2023 shows a final sold price range between $28,500 and $31,500 for this property. Market value can vary, but this recent history provides a concrete benchmark.
2. What does "below average" assessment for the neighbourhood mean?
In J.B. Mitchell, this home’s assessment ranks in the top 93%—meaning it’s among the 7% of homes with the lowest assessed values in the area. This can indicate a lower tax base but often reflects the home’s condition relative to others in the community.
3. How does the lot size compare practically?
At 6,598 sqft, the lot is significantly larger than the neighbourhood average (~5,386 sqft). This translates to more private yard space, potential for additions (subject to zoning), or simply a less crowded feel compared to nearby properties.
4. What should I know about the basement?
The listing notes the basement exists but is "not renovated." Prospective buyers should budget for inspections to understand its current condition, potential for moisture, and the scope of work needed to make it a usable living space.
5. How old is this home relative to others?
Built in 1955, it is older than the average Winnipeg home but is actually around the median age for its specific street and neighbourhood. Buyers should anticipate maintenance and systems updates typical for a home of this era.