Property Overview: 759 Spruce Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 759 Spruce Street in the Minto neighbourhood is defined by its compact and efficient scale. Built in 1928, it offers 640 square feet of living space on a 2,410 square foot lot, placing it well below the average size for homes on its street, in Minto, and across Winnipeg. This is reflected in its municipal assessed value of $21,800, which is also notably below average.
The primary appeal lies in its position as an accessible entry point into the Winnipeg market. It represents a lower barrier to ownership, potentially suiting first-time buyers, investors, or those seeking a minimalist lifestyle without a large mortgage. The lot, while smaller than many, still offers outdoor space in a central location. A thoughtful perspective is that its below-average metrics could signal an opportunity for value-adding renovation or expansion, subject to local regulations. The home last sold in the $200k-$250k range in 2024, suggesting its market price significantly exceeds its assessed value for tax purposes.
This property would best suit a practical buyer who prioritizes location and affordability over space, or an investor looking for a manageable rental property. It is less suited for those requiring ample indoor living area or a large private yard.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sold price?
Municipal assessed value is for tax purposes and is based on mass appraisal techniques and historical data; it often lags behind the current market value determined by what a buyer is willing to pay in an active sale.
2. What does the "Top 94%" ranking for Living Area mean?
It means this home's living area is smaller than approximately 94% of comparable homes on Spruce Street. In this context, a higher percentage indicates a smaller size relative to peers.
3. Is the small lot size a major drawback?
It depends on your needs. While it limits expansive gardening or large additions, it can mean less maintenance and lower landscaping costs, which some buyers may prefer.
4. What are the implications of the home being built in 1928?
You can expect character common to homes of that era, but it is crucial to have a thorough inspection to understand the condition of older mechanical systems, wiring, plumbing, and the foundation.
5. How can I find out the exact price it sold for in 2024?
The listing service provides an estimated range. To obtain the exact sale price, you must request it directly via the email link provided, as this data is not publicly displayed in detail due to local regulations.