Property Overview
10 St Vital Road is a compact, 624 sqft bungalow built in 1945, situated on a 3,824 sqft lot in Winnipeg's Norberry neighbourhood. With an assessed value of $206k, it stands well below area averages for both size and price, positioning it as one of the most accessible entry points into the local market.
Key Characteristics & Appeal
This home’s primary appeal is its affordability and simplicity. It is a quintessential starter home or investment property, with a price point significantly lower than most comparable homes on its street, in Norberry, and across Winnipeg. The lot, while smaller than area averages, offers manageable outdoor space with minimal upkeep.
Its appeal lies in opportunity rather than luxury. It suits first-time buyers seeking a foothold in the market without a large mortgage, or investors looking for a rental property with a lower initial capital outlay. The home’s age (81 years) suggests a need for updates, which could appeal to buyers interested in adding value through renovation, provided they are prepared for the work and cost involved. A thoughtful perspective is that its below-average metrics across the board create a predictable, low-barrier entry, but they also mean there are no standout features—this is a practical purchase based squarely on budget.
Frequently Asked Questions
1. Why is the assessed value so much lower than the area average?
The assessed value reflects the home's smaller size (624 sqft vs. an area average over 1,100 sqft), its age, and likely its condition and feature set compared to other properties. It is consistently ranked in the bottom 5-10% of homes on its street and in Norberry for value.
2. What should I consider due to the home's age (built in 1945)?
Buyers should budget for potential updates to major aging systems like plumbing, electrical, and the roof. An inspection is crucial. On a positive note, the home may possess character and construction materials not found in newer builds.
3. Is the smaller lot size a disadvantage?
It depends on your priorities. The 3,824 sqft lot is easier and cheaper to maintain than larger plots, but it offers less privacy and limited space for expansions, large gardens, or additions. It ranks in the bottom 25% for lot size city-wide.
4. Who would this property not be suitable for?
It likely wouldn’t suit buyers needing move-in-ready condition, growing families requiring more space, or those who prioritize modern amenities and ample room for outdoor activities.
5. How reliable is the sold price data shown?
The site notes that sold price data is from public sources, not the MLS, and is presented in a range. For fully verified and exact historical sale figures, you must request a manual lookup via email from the service.