Property Overview
This home at 224 Notre Dame Street in Winnipeg’s North St. Boniface neighbourhood presents a distinct profile defined by its balance of space and value. Built in 1945, its key characteristic is a generous 6,011 sqft lot, which ranks well above average for its immediate street and area. This offers significant outdoor space and potential in a city where larger lots are increasingly rare. The living area, at 676 sqft, is notably compact, placing it well below average comparisons at every level. However, its assessed value of $318k sits comfortably around the average for the area, suggesting the land value is a substantial component of its worth.
The appeal lies in a classic scenario: a modest, older home on a large parcel. It suits a buyer with a vision for expansion or redevelopment, or someone who prioritizes private outdoor space over interior square footage. It’s a practical entry point into the neighbourhood, likely appealing to hands-on individuals, investors, or those willing to live efficiently while holding a valuable land asset. A less obvious perspective is its recent sale history (sold in 2021 and again in 2024), which indicates active market interest and could reflect the ongoing demand for properties with redevelopment potential in established communities.
Frequently Asked Questions
1. Is the house in need of major updates?
Given its 1945 construction and compact living area, buyers should anticipate characteristics of an older home. The recent sale activity may indicate updates, but a thorough inspection is essential to understand the condition of major systems like plumbing, electrical, and the roof.
2. Why is the assessed value around average when the house is so much smaller than others?
The assessment likely reflects the significant value of the large lot. In established neighbourhoods, land often constitutes a major portion of a property’s total value, especially when the building footprint is smaller.
3. What can I do with such a large lot?
The lot size offers flexibility. Options could include gardening, adding a garage or shed, creating extensive outdoor living areas, or, subject to local zoning and regulations, future expansion of the home or even redevelopment.
4. How does the recent sale price help determine its value?
The property sold between $350k-$400k in mid-2024. Comparing this to the $318k assessed value (which is for tax purposes) and the listed sale range gives a concrete benchmark of its recent market value, which appears to be strong for the area.
5. Where can I get verified details on past sales?
The page notes that exact sold prices require a manual lookup due to industry data rules. You can request this information directly via the email link provided on the property detail page to get precise historical figures.