Property Overview: 705 Strathcona Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a compact, character home built in 1911, situated on a standard-sized city lot in the Minto neighbourhood. Its primary appeal lies in its relative value and established location. At 903 sq ft, the living space is modest but typical for the immediate street and area, offering a manageable footprint. The home’s assessed value ranks above average for Strathcona Street, suggesting it is well-regarded within its most direct peer group. A recent sale in the $350k-$400k range indicates strong market interest.
The property suits first-time buyers or downsizers seeking an entry into a mature neighbourhood without the upkeep of a larger lot or home. Its age presents an opportunity for someone interested in a home with history, but it also implies a need for diligence regarding updates and maintenance. A thoughtful perspective is that while the lot size is smaller than the city average, it offers a balance—enough outdoor space for a garden or patio without demanding excessive yard work. The data suggests this home is a solid, average performer in its local context rather than a standout, making it a pragmatic choice for value-focused buyers who prioritize location and community over size or new construction.
Frequently Asked Questions
1. What does the above-average assessed value on the street indicate?
It suggests that, compared to its immediate neighbours on Strathcona Street, this property is assessed at a higher value. This can be due to factors like condition, improvements, or specific lot attributes, and often correlates with a stronger selling position within the micro-market of the street itself.
2. Are there concerns with a home built in 1911?
While full of character, a home of this age will likely have older infrastructure. Prospective buyers should budget for and investigate the condition of major systems like wiring, plumbing, and the foundation, and plan for potential updates to improve energy efficiency.
3. How does the recent sale price compare to the assessed value?
The assessed value is significantly lower than the recent sale price range. This is common, as municipal assessments for tax purposes often lag behind current market values, which are driven by buyer demand and recent comparable sales.
4. Is the lot size a limitation?
At 2,563 sq ft, the lot is smaller than both the area and city averages. This means less private outdoor space but also lower maintenance. It may limit expansion possibilities but is sufficient for a starter home or a low-maintenance yard.
5. How can I get the exact historical sold price?
The exact sold price is not publicly displayed. You can request it by email through the listing service; they provide the accurate figure manually without using your email for marketing spam.