Property Overview
1256 Salter Street is a 1,040 sqft bungalow built in 1966, situated on a notably large 6,493 sqft lot in Winnipeg's Margaret Park neighbourhood. Its appeal is anchored in its generous land size, which ranks well above average for the street, area, and city, offering significant potential for expansion, gardening, or outdoor space. While the living area is modest and slightly below average for Salter Street, the property's assessed value is strong for its immediate locale, suggesting the lot itself is a key driver of value. This home would suit a buyer looking for a solid footprint in a central neighbourhood, particularly one with a vision for future renovations, an addition, or who simply prioritizes ample private outdoor space over a large existing interior.
Key Considerations & FAQs
1. What is the neighbourhood like?
Margaret Park is a mature, central Winnipeg neighbourhood. The property's metrics show it is surrounded by homes with a wide variety of ages and sizes, indicating an area with diverse housing stock and likely a mix of long-term residents and newer homeowners.
2. Is the house in need of major updates?
Built in 1966, the home is newer than many on its street but is now 60 years old. Buyers should budget for updates consistent with a home of this age, such as roof, windows, or mechanical systems, though the structure itself may be in good condition.
3. Why is the assessed value higher than area averages?
The assessed value ranks in the top 26% on Salter Street, which is likely a direct reflection of its much larger-than-average lot size. The city's assessment often values land highly, especially in established neighbourhoods.
4. How does the lot size compare practically?
At nearly 6,500 sqft, the lot is substantially larger than the typical Winnipeg property. This isn't just a minor difference; it provides tangible room for additions, a large garage, or extensive landscaping that wouldn't be possible on a standard lot.
5. What can the sale history tell us?
The home sold in the $250k-$300k range in 2016. This historical price, combined with its current assessment and lot advantages, suggests it has been viewed as a property with underlying value, possibly for its redevelopment potential or spacious setting.