Property Overview: 761 Spruce Street, Winnipeg
Key Characteristics & Appeal
This home at 761 Spruce Street in the Minto neighbourhood is a study in contrasts, offering a specific value proposition. Built in 1930, its 788 sqft living area is compact, ranking below average for both the area and the wider city. The lot size of 2,410 sqft is also notably smaller than most nearby properties. However, its assessed value of $27,600 ranks well above average for both Spruce Street and the Minto area, suggesting the property is in good condition or has features that offset its smaller footprint.
The primary appeal lies in its efficiency and potential for a low-maintenance lifestyle. It suits first-time buyers, downsizers, or investors seeking an affordable entry point into the Winnipeg market with a home that appears to be well-maintained relative to its immediate peers. A thoughtful perspective is that a smaller, well-kept home on a modest lot can mean significantly lower upkeep costs and time, freeing up resources for other pursuits. Its last recorded sale was between $250k-$300k in 2021, positioning it as a practical, no-frills option in a mature neighbourhood.
Frequently Asked Questions
1. Why is the assessed value above average when the house and lot are smaller than average?
A higher-than-average assessment on the street and in the neighbourhood often indicates the property is in better physical condition, has had permitted upgrades, or possesses other attributes that increase its taxable value compared to similar-aged homes.
2. What does the smaller lot size mean for me?
It typically translates to less yard maintenance, which can be a benefit for those seeking a low-maintenance property. However, it may limit options for expansions, additions, or extensive outdoor landscaping.
3. How outdated might a 1930s home be?
While charm and character are common, prospective buyers should budget for potential updates to older mechanical systems (like plumbing or wiring) and anticipate a need for energy efficiency improvements, which is a key reason to invest in a thorough inspection.
4. The last known sale price was $250k-$300k in 2021. What would it be worth today?
Market conditions have shifted since 2021. For an accurate current market valuation, you should consult a local real estate professional who can analyze recent, comparable sales in Minto.
5. How can I find out the exact historical sale prices?
The exact sold prices are not publicly displayed in detail. As noted on the listing, you can request this information directly via email from the source, SaveOnHouse.