Property Overview
This home at 704 Ingersoll Street in Winnipeg's Minto neighbourhood presents a classic, early-20th century property with distinct characteristics. Built in 1923, it sits on a larger-than-average lot for its immediate street and offers above-average living space compared to its closest neighbours. Its appeal lies in its established location and the tangible value of its generous lot size. The home’s assessed value is notably below average for both the wider city and its broader area, which can signal different things to different buyers.
This property would likely suit a pragmatic, value-conscious buyer. It could be a fit for a first-time homeowner comfortable with a home from the 1920s, or an investor looking at the long-term potential of the land relative to the purchase price. It’s less suited for someone seeking a modern, turn-key property or for whom a premium city-wide assessment is a key priority.
A thoughtful perspective is that this home represents a local standout in terms of space but a broader market value opportunity. While it feels spacious compared to houses right next door, its lower assessment city-wide suggests it may be undervalued or in need of updates, offering a canvas for someone to add value.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value for tax purposes is not the same as market value. A significantly lower assessment, especially in an older neighbourhood, can reflect the home’s age, condition, or specific market factors in Minto compared to newer city areas. It often results in lower property taxes.
2. What does the sold price range (CA$150k–200k in 2023) tell us?
This recent sale indicates the home’s market value falls within that bracket. The fact that it sold in the lower percentiles city-wide (Top 91%) aligns with the lower assessment, confirming it as a more affordable entry in the Winnipeg market.
3. Are there concerns with a house built in 1923?
Potentially, yes. A 103-year-old home will likely have older systems (like plumbing, electrical, and heating) and may require more maintenance or updates. A thorough inspection is essential to understand the condition and any needed investments.
4. What are the advantages of the larger lot size?
At 3,211 sqft, the lot is above average for Ingersoll Street. This offers more outdoor space, better potential for gardening, parking, or additions, and can be a significant long-term asset as lot sizes in newer developments are typically smaller.
5. How can I get the exact historical sold price?
The exact sold price is not publicly displayed. As noted on the listing, you can provide your email address to request it manually from the site. They state they do not use emails for spam and aim to reply by the end of the same day.