Property Overview
808 Spruce Street is a 860 sqft home in Winnipeg's Minto neighbourhood, built in 1929 on a 3,064 sqft lot. Its key appeal lies in its strong standing within its immediate community. While its size is modest compared to the wider city, it ranks well above average for assessed value on its street and in Minto, suggesting it is a well-maintained or updated property in its local context. This creates an interesting dynamic: it’s a smaller, character home that holds significant value within its established neighbourhood.
The property would suit a first-time buyer or downsizer looking for an efficient, lower-maintenance footprint in a mature area. It’s also a sensible choice for an investor or homeowner who prioritizes value retention and community comparables over maximum square footage. The data suggests a buyer who values a home's condition and lot location over sheer size, appreciating the character and stability of an older neighbourhood.
Frequently Asked Questions
1. Why is the assessed value ranked so much higher than the living area?
The assessed value is in the top 17% for the Minto area, while the living area is only in the top 66%. This typically indicates the home has features or conditions that add value beyond its square footage, such as renovations, quality updates, or a desirable lot placement.
2. How does the sold price from 2022 help determine current value?
The previous sale in the $250k-$300k range provides a historical benchmark. When combined with its current high assessed value ranking, it suggests the property has maintained or increased its value relative to neighbours, but a current market appraisal is essential for today's price.
3. What are the implications of the home being built in 1929?
A home of this age offers classic character but requires a diligent inspection. Its age is typical for the street and area, so local contractors are likely familiar with maintenance and renovation needs for houses of this era.
4. The lot size is below the city average. Is that a concern?
For this neighbourhood and street, the lot size is around the average. It provides a manageable outdoor space typical of the community's density. It may be a drawback if you seek extensive gardening space, but it aligns with the lower-maintenance appeal of the property.
5. How meaningful are the "top percentile" rankings?
They are most meaningful at the street and neighbourhood level. They show this property is a strong performer within Minto, particularly in value. The city-wide rankings, where it falls lower, mainly highlight that it’s a more compact property compared to newer suburban developments.