Property Overview & Appeal
This home at 912 Spruce Street in Winnipeg's Minto neighbourhood is a classic, compact property built in 1929. Its key characteristic is its modest scale: with 760 sqft of living space, it is notably smaller than most homes in the city, ranking in the bottom 7% citywide for size. However, its assessed value is proportionally low, sitting comfortably around the average for its immediate street and neighbourhood. This creates a specific value proposition—it’s an entry point into the market with a manageable tax base. The lot size is a solid 3,058 sqft, offering good outdoor potential relative to the home's footprint.
The appeal lies in its efficiency and opportunity. It suits first-time buyers or investors looking for an affordable, no-frills property where the value is in the land and location rather than extensive finished space. It’s a practical canvas for someone comfortable with a smaller home or seeing potential in a strategic renovation or expansion over time. A less obvious perspective is that its below-average size and assessed value citywide could mean lower ongoing property taxes compared to similarly priced but larger homes in other areas, a significant long-term cost consideration.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value of $24,600 is for municipal tax purposes. The market value, indicated by the 2019 sale in the $200k-$250k range, is determined by what buyers are willing to pay.
2. The home seems small. Is there room to expand?
The lot size of 3,058 sqft is a key asset, providing considerable yard space. This suggests potential for an addition or significant renovation, subject to local zoning and permit approvals.
3. What does the "Top 74%" ranking for living area mean?
It means this home's living area is larger than 74% of comparable homes on Spruce Street. Conversely, 26% of homes on the street are larger. This indicates it's on the smaller side for its immediate area, but not the smallest.
4. How can I find out the exact past sale price?
The provided sale price is a public data range. You can request the exact sale price by emailing the site via the "Get exact sold price history" button; they provide this as a manual, no-spam service.
5. The home is 97 years old. What should I be concerned about?
While charm and character are benefits, age necessitates a thorough inspection. Key focuses should be the foundation, roof, plumbing, electrical systems (which may need updating), and insulation. Its average age for the neighbourhood means local contractors are likely familiar with homes of this vintage.