Property Overview: 155 Mcfarlane Street N, Winnipeg
Key Characteristics & Appeal
This home is a piece of Winnipeg’s history, built in 1893, offering a rare opportunity to own one of the older homes in the city. Its primary appeal lies in its affordability and location within North Point Douglas. With an assessed value of $122,000, it sits well below the citywide average, presenting a notably low barrier to entry for homeownership or investment.
The house itself is compact at 884 square feet of living space, smaller than most in the immediate area and city. However, it sits on a 3,315 sqft lot that is fairly typical for the North Point Douglas neighbourhood. This balance suggests potential—the lot provides room for expansion or outdoor space that the home’s current size does not.
This property would suit a specific buyer: a hands-on individual or investor looking for an affordable foothold in the city. It’s a candidate for a careful renovation, appealing to someone who values character and potential over move-in-ready finishes. Given its age and size, it is less suited for those seeking spacious, modern accommodations without renovation plans.
Frequently Asked Questions
1. How does the assessed value compare?
The $122,000 assessment is around the average for both Mcfarlane Street and the wider North Point Douglas area. However, it ranks in the top 1% of the city for affordability, meaning it is significantly lower than the Winnipeg average of approximately $390,000.
2. What should I consider due to the home’s age?
Built in 1893, this is one of the older homes in Winnipeg. Prospective buyers should prioritize inspections for foundational integrity, plumbing, electrical systems, and energy efficiency. Renovation plans should account for the potential need to update core systems, not just cosmetics.
3. Is the lot size a pro or a con?
While the lot is smaller than the average for the street and much smaller than the city average, it is very close to the median size for North Point Douglas. For the neighbourhood, it’s a standard parcel, offering adequate outdoor space without extensive maintenance demands.
4. What does the sold price history indicate?
Records show it last sold between $100,000 and $150,000 in May 2021. This recent sale in a similar price band reinforces the property’s position as an affordable entry point. For exact historical sold prices, a manual lookup via the site’s email request is needed.
5. Who would this property not suit?
It may not be ideal for buyers who need ample indoor living space immediately, as it is notably smaller than area averages. It also may not fit those unwilling to manage the upkeep or potential renovations associated with a 133-year-old home.