Property Overview
This home at 690 Spruce Street in Winnipeg's Minto neighbourhood presents a specific and practical value proposition. Built in 1922, it is a century-old property with a modest 835 sqft footprint on a smaller 2,324 sqft lot. The data indicates its assessed value is notably below average for its street, area, and the wider city. Its appeal lies in its position as an accessible entry point into the market, likely requiring a buyer comfortable with a home of its age and scale. It last sold between 2017 for an estimated $150k-$200k.
Key Characteristics & Ideal Buyer
This property is defined by its below-average size, lot, and assessed value. Its living space is compact, ranking in the top 59% on its street but falling to the top 89% city-wide, meaning it is smaller than most Winnipeg homes. The lot is particularly small, ranking in the bottom 2% on Spruce Street. These characteristics point to a home best suited for a first-time buyer, an investor, or someone seeking a minimalist footprint with lower property taxes. Its age suggests potential for character but also implies a need for thorough inspection and possible updates. The buyer should be pragmatic, budget-conscious, and view this as a functional foundation rather than a move-in-ready showcase.
Frequently Asked Questions
1. What does the "below average" assessed value really mean?
It means the city's assessment for this property is significantly lower than most homes around it. This typically translates to lower annual property taxes, which is a financial advantage, but it also reflects the home's comparative market position.
2. Is the small lot size a major drawback?
It limits expansion possibilities and extensive outdoor space. However, it reduces maintenance time and cost. For a buyer who prioritizes a low-maintenance lifestyle or doesn't need a large yard, this can be a practical trade-off.
3. Given its age, what should I be most concerned about?
Any home from 1922 requires a specialized inspection focusing on foundational integrity, plumbing and electrical systems (which may be original or outdated), and insulation. The potential for charming original details comes with the responsibility of maintaining an older structure.
4. How reliable are the sold price ranges shown?
The ranges are based on public data. For the exact historical sold price, you must request it via email from the service. This is a manual process they use to ensure accuracy.
5. The home seems smaller than most. How usable is the layout?
At 835 sqft, efficient use of space is critical. While the neighbourhood analysis map (linked on the detail page) can show the home's footprint, viewing the interior is essential to see if the layout meets your needs or if strategic renovations could improve the flow.