Property Overview
This home at 697 Goulding Street in Winnipeg’s Minto neighbourhood presents a distinct profile. Built in 1914, it’s a century-old property that stands out in its immediate area for its above-average interior space and surprisingly low municipal assessment, while sitting on a modest lot.
Key Characteristics & Appeal
The primary appeal lies in its value proposition within its local context. With 1,246 sqft of living area, it offers significantly more space than the typical home on Goulding Street (which average 939 sqft) and in the wider Minto area. This makes it a relatively spacious option for the neighbourhood. Its most striking characteristic is its assessed value of $28,600, which ranks in the top 9% on its street and top 20% in Minto, indicating much lower property taxes than the Winnipeg city average. However, this very low assessment contrasts with its last recorded sale in the $300k-$350k range (2022), highlighting a significant gap between its market price and its tax valuation.
The property suits practical, value-conscious buyers. It’s ideal for someone seeking more interior space in a central neighbourhood without a corresponding high tax bill. It could also appeal to an investor or homeowner comfortable with an older home (112 years) who sees potential in a structure that has already been modernized to command a modern sale price. The smaller lot (2,699 sqft) means less yard maintenance, aligning with a lock-and-leave or low-upkeep lifestyle.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Municipal assessments in Winnipeg are for tax purposes and often lag behind market values, especially after rapid market increases. A sale price reflects current buyer demand, while an assessment is based on a mass appraisal model. This gap can mean relatively lower property taxes.
2. What does the older construction year (1914) mean for me?
While offering classic character, a home of this age requires diligent inspection. Key considerations are the condition of the foundation, plumbing, electrical systems, and insulation, which may have been updated over time. Its longevity also suggests solid original construction.
3. The home sold recently in 2022. Why might it be back on the market?
Without specific disclosure, common reasons for a quick resale include a change in the owner’s life circumstances (job relocation, family change), or it could have been an investment property. It does not necessarily indicate a problem with the home itself.
4. How does the smaller lot size impact the property?
The lot is below average for the street and city. This typically means a smaller backyard and potentially less privacy, but also reduces maintenance time and costs. It’s a trade-off that prioritizes the house’s interior space over outdoor land.
5. How can I find out the exact past sale price?
The provided sale price is a public record range. As noted on the listing, you can request the exact sale price by emailing the source (SaveOnHouse), which manually provides that data from its records.