Property Overview: 500 Ingersoll Street, Winnipeg
Key Characteristics & Appeal
This home at 500 Ingersoll Street in the Minto neighbourhood presents a compelling mix of value and established character. Built in 1929, its key appeal lies in its strong position within its immediate area. The standout feature is its Assessed Value of $30,900, which ranks in the elite top 3% on its street and above average for the Minto area, suggesting it is a high-value property among its direct peers. The living space of 970 sq.ft. is very typical for homes on Ingersoll Street, offering a practical footprint. It sits on a lot of 3,103 sq.ft., which is above average for the street, providing a good amount of outdoor space for the area.
The property suits buyers looking for a home in a mature, established neighbourhood where the investment value is clear relative to nearby houses. It’s a fit for those who appreciate the character of a nearly century-old home and are potentially prepared for the maintenance that can entail. A thoughtful perspective is that while the home is older compared to the city-wide average, its above-average rankings on its own street for year built, lot size, and especially value indicate a well-regarded and maintained property in its specific context, which can be more important than city-wide comparisons.
Frequently Asked Questions
1. What does the "Elite" ranking for Assessed Value actually mean?
It means this home's assessed value is among the highest 3% of 445 comparable properties on Ingersoll Street. This typically indicates the property is considered more valuable than the vast majority of its immediate neighbours, which can be due to factors like condition, improvements, or lot desirability.
2. Is the living space smaller than a modern home?
At 970 sq.ft., the living area is very standard for Minto and on Ingersoll Street, but it is below the city-wide average. This reflects the character of older, established neighbourhoods where homes often have efficient, compact layouts compared to newer subdivisions.
3. How does the sold price history from 2017 relate to today's value?
The prior sale in the $200k-$250k range provides a historical benchmark, but market conditions have likely changed. The current high assessed value relative to the street suggests the property's official valuation has increased significantly since that last sale.
4. What are the implications of the home being built in 1929?
A home of this age offers classic charm and is likely located in a well-established area with mature trees. Buyers should budget for potential updates to older mechanical systems (like plumbing or wiring) and ensure a thorough inspection to understand the condition of the original structure.
5. Why is the city-wide comparison for Lot Area "below average"?
The lot size is generous for its own street but is considered below average city-wide because newer suburban developments typically feature much larger lots. This highlights a key difference between inner-city and suburban property types.