Property Overview: 71 Lusted Avenue, North Point Douglas
Key Characteristics & Appeal
This home, built in 1898, is a character property offering above-average interior space for its neighbourhood. With 1,731 square feet of living area, it ranks within the top 20% citywide for size, providing more room than many modern counterparts. Its assessed value of $142,000 is very typical for North Point Douglas, positioning it as an accessible entry point into the Winnipeg market, especially when compared to the citywide average assessment of approximately $390,000. The lot size of 3,270 sq ft is standard for the area.
The primary appeal lies in its value proposition: significant historic home square footage at a notably lower price point than the city average. It suits practical, value-conscious buyers such as renovators seeking a project with good bones, investors looking for a rental property with a lower initial investment, or first-time homebuyers willing to trade a newer build for more interior space and a classic neighborhood feel. A thoughtful perspective is that its "below average" citywide assessment isn't a drawback but a direct reflection of its location, offering a specific opportunity for those who see potential in the established, close-knit North Point Douglas community.
Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The assessed value for tax purposes is typically below market value. In this case, the $142,000 assessment is aligned with area averages. Recent sold price data for the area suggests a market range likely between $150,000 and $200,000, but exact historical sale figures for this property require a manual lookup.
2. What are the implications of the home's age (1898)?
While offering classic charm, it necessitates a thorough inspection for foundational integrity, wiring, plumbing, and insulation. Modernization costs should be factored into your budget. Its age also means it ranks among the oldest 1% of homes citywide.
3. The lot seems smaller than the city average. Is that a concern?
The lot is slightly smaller than others on its street but is very standard for the North Point Douglas neighbourhood. It provides a manageable yard space typical of older, inner-city communities and is not considered unusually small in this context.
4. Who would this property not suit?
It may not suit buyers seeking a modern, turn-key home without renovation projects, or those prioritizing a large backyard. Given its age and value positioning, it is also less likely to appeal to buyers focused on newer suburban developments.
5. How can I verify the exact past sale prices?
The provided sold price data is an estimated range from public records. To obtain fully verified, exact sale figures and a complete transaction history, you must request a manual lookup from the site, which they will provide via email.