Property Overview
This home at 626 Goulding Street in Winnipeg's Minto neighbourhood is a compact, century-old property that presents a specific value proposition. Its key characteristics are defined by how it compares to other homes, offering a clear picture of its position in the market.
Key Characteristics & Appeal
Built in 1925, this is a modestly sized home with 714 square feet of living space, which is notably smaller than most homes on its street, in Minto, and across Winnipeg. Its lot size of 2,411 sqft follows a similar pattern, being more compact than area averages. The assessed value is correspondingly lower than typical benchmarks.
The primary appeal lies in its accessibility. With a historically lower sold price range and a below-average assessed value, it represents a potentially affordable entry point into homeownership in Winnipeg. This isn't a sprawling property; it's a practical one. It would suit first-time buyers or investors seeking a lower-cost option with renovation potential, given its age. A thoughtful perspective is that its smaller size and lot could mean lower utility costs, property taxes, and maintenance demands, aligning with a minimalist or efficiency-focused lifestyle. Its age also places it among the older homes in the city, which can appeal to those interested in character homes, though this comes with the expectation of potential upkeep.
Frequently Asked Questions
1. Is this a good value for a first-time buyer?
Based on the data, its assessed value and past sold price are consistently below averages for the street, neighbourhood, and city. This suggests it could be a competitively priced option for entering the market, though the smaller size and age are important factors to weigh against the price.
2. How does the lot size impact its potential?
At 2,411 sqft, the lot is smaller than many in the area. This likely means less outdoor maintenance but may limit possibilities for large additions or extensive landscaping compared to properties with larger lots.
3. What should I consider about the home's age?
Built in 1925, the home is over a century old. While this can mean charming character, it also necessitates a thorough inspection for the condition of foundational elements, plumbing, electrical systems, and insulation, which may need updating.
4. The living area is listed as "below average." How small is it?
At 714 sqft, the living space is significantly smaller than the Minto area average of about 1,060 sqft. This indicates a compact floor plan, suitable for a single person, a couple, or someone looking for a very efficient use of space.
5. Why is the city-wide average assessed value so much higher?
The data shows the city-wide average assessed value for comparison homes is $390k, while this home is assessed at $22.10k. This extreme difference highlights that the "comparable" groups are based on the home's specific metrics (like its very small size and low value) rather than its location. It underscores that this property exists in a very different price tier than the typical Winnipeg home.