Property Overview: 105 Leicester Square, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1957, situated on a standard-sized lot in the Jameswood neighbourhood. With 988 square feet of living space, it offers a practical and manageable layout, well-suited for first-time homebuyers, downsizers, or investors seeking a straightforward property. Its assessed value of $280k is notably below average for the immediate street and area, which presents a key financial appeal: the opportunity for entry into the market at a relatively accessible point, especially for a standalone house. While the home lacks a basement, pool, or garage, its vintage places it among the oldest and most established homes on its street—a point of character that may appeal to those preferring original neighbourhoods. The appeal lies in its simplicity and position as a potential value proposition in its locale, suited for someone comfortable with a home that may require updates but offers the fundamentals of land ownership and community.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes?
The data shows this home's assessed value ranks in the bottom quartile for Leicester Square. This typically reflects the home's smaller size, lack of basement, and potentially a need for modernization compared to updated or expanded homes on the same street.
2. What does "no basement" mean for storage and utilities?
All living space is on the main floor. Utilities like the furnace and water heater will be in a utility room on the main level, and storage solutions may need to be creative, as there is no below-ground area.
3. The home is older—what should I consider?
Built in 1957, it is among the oldest on the block. A thorough inspection is crucial to understand the condition of major aging components like the roof, plumbing, and electrical systems, which could represent future investments.
4. How does the living space compare to a typical condo?
At 988 sq ft, the living area is smaller than the average Winnipeg house but is comparable to or larger than many two-bedroom condos, with the added benefit of a private yard.
5. You mention a "value proposition." Where is the potential?
The potential lies in the price point for a detached house in the area. For a buyer willing to make gradual improvements, there is an opportunity to add value over time, especially if other homes on the street have higher valuations.