Property Overview: 1109 Salter Street, Winnipeg
Key Characteristics & Appeal
This 1,073 sqft bungalow, built in 1966, presents a solid opportunity in Winnipeg's Margaret Park neighbourhood. Its primary appeal lies in the generous 6,249 sqft lot, which ranks well above average for both the street and the local area, offering significant outdoor space and potential. The home's assessed value is notably strong for Salter Street, suggesting it is viewed favorably relative to its immediate peers. While the living area is modest and typical for the city, the combination of a larger, newer-than-average home for the street on a substantial lot creates a unique value proposition.
This property would suit a practical buyer looking for a land-advantaged home in a central neighbourhood. It’s ideal for someone with a vision for outdoor living, gardening, or future expansion, who values space over a recently built structure. It also appeals to an investor or homeowner who recognizes the underlying value indicated by its above-street-level assessment, seeing potential in a well-situated asset rather than a turn-key modern finish.
Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home sold for an estimated $300k-$350k in 2023. Its current assessed value is $31,700. It’s important to understand that in Manitoba, property assessments are not market valuations; they are used for calculating municipal taxes. The sale price reflects the actual market value at that time.
2. What does the "above average" year built ranking mean for a 1966 home?
While 1966 is not new, this ranking indicates the home is newer than most on Salter Street, where the average comparable home was built around 1932. This suggests potentially fewer age-related issues than many neighbouring properties, though a thorough inspection is still essential.
3. Is the lot size a major advantage?
Yes. The lot is substantially larger than typical lots in both Margaret Park and on Salter Street itself. This is a key differentiator, offering more privacy, yard space, and options for additions, decks, or landscaping than most properties in its price range in the area.
4. What can the "similar properties" list tell me?
The listed properties with similar assessed values are all in different neighbourhoods (like Varsity View). This highlights that assessed value is a poor tool for comparing homes across different areas, as it doesn't reflect market desirability, condition, or lot size. Focus on comparisons within Margaret Park.
5. How reliable are the sold price ranges shown?
The ranges are based on public data and provide a good estimate. For the exact historical sale price, you must request it directly from the site via email, as this information is not fully disclosed in Manitoba’s public records.