Property Overview: 1157 Inkster Boulevard, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value profile centered on its generous lot and strong assessed value relative to its immediate area. Built in 1957, the 816 sqft house is notably compact, ranking below average in living space for the street, neighborhood, and city. However, its appeal is anchored in its 4,798 sqft lot, which is larger than most on Inkster Boulevard, offering valuable outdoor space or future expansion potential in a mature area.
The property’s assessed value of $323,000 stands out as significantly above average for the street and neighborhood, suggesting attributes or updates that are recognized in its official valuation. This creates an interesting dynamic: a smaller home on a desirable lot, carrying an assessment that implies a premium position locally. It last sold between $300k-$350k in mid-2021.
This property would best suit a pragmatic buyer who prioritizes land over square footage. It’s a potential match for a first-time homeowner comfortable with a cozy layout, an investor looking for a lot with future redevelopment potential in a stable area, or a buyer seeking a lower-maintenance exterior footprint without sacrificing yard space. It appeals to those who find value in a home that outperforms its immediate surroundings in key financial metrics.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 816 sqft, the living area is compact. Buyers should consider if the layout and number of bedrooms suit their needs, as the space is below average for the area.
2. Why is the assessed value so high compared to the street average?
An assessment above the local average can reflect factors like the larger lot size, significant improvements, or desirable attributes not solely based on square footage. It’s advisable to review the assessment details and any recent updates to the property.
3. What is the significance of the large lot?
The nearly 4,800 sqft lot is a key feature, offering more private outdoor space than typical properties on the street. This can be valuable for gardening, recreation, or future projects like an addition, garage, or shed, subject to zoning.
4. How does the 2021 sale price relate to the current assessed value?
The home sold for an estimated $300k-$350k in 2021. The current $323k assessment aligns with that range, indicating market stability. Assessment values are for taxation and may differ from current market value.
5. What should I consider about the home’s age?
Built in 1957, the home is newer than many on its street but is nearly 70 years old. A thorough inspection is recommended to evaluate the condition of major aging components like the roof, plumbing, electrical, and foundation.