Property Overview
245 Dumoulin Street is a compact, 680 sqft home built in 1941 on a 4,172 sqft lot in Winnipeg's North St. Boniface neighbourhood. With an assessed value of $271,000, it presents a specific and practical opportunity in the market.
Key Characteristics & Appeal
The primary characteristic of this property is its efficiency. At 680 sqft, the living space is significantly below the average for the area, which typically sees homes over 1,200 sqft. This defines its core appeal: it is an affordable entry point into a well-established neighbourhood. The assessed value is notably lower than both area and city-wide averages, suggesting a potentially lower property tax burden and an accessible price point for a first-time buyer or an investor.
Its appeal lies in its lot size and location. The lot is reasonably proportional for the street and area, offering outdoor space that many similarly priced condos do not. Being in North St. Boniface provides the charm and convenience of a mature community with local amenities. A thoughtful perspective is that this home may suit someone looking to "right-size"—downsizing from a larger property but wishing to retain a private yard and a character-home setting, rather than moving into an apartment. It would also suit a hands-on buyer or investor comfortable with a home of its era (85 years old), potentially viewing it as a canvas for updates or an efficient rental property.
Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
This is a compact, character home built in 1941. Its floor plan reflects the efficient design norms of its time and is a key reason for its more accessible assessed value compared to larger neighbouring properties.
2. How does the assessed value affect property taxes?
With an assessed value ($271k) below the neighbourhood average (approx. $378k), the municipal property tax assessment should be proportionally lower. This is a tangible financial advantage for the budget-conscious buyer.
3. What should I consider about the home's age?
Built in 1941, the home is older than the city-wide average. Prospective buyers should prioritize a thorough inspection to understand the condition of major systems like wiring, plumbing, and the foundation, and budget for maintenance or updates typical of a home from this period.
4. Is the lot size a positive feature?
Yes. While below the city average, the 4,172 sqft lot is competitive for the immediate area. It provides valuable private outdoor space, which is a key differentiator from condo living and offers potential for gardening, expansion, or simple outdoor enjoyment.
5. How does the last sold price (2020) relate to today's value?
The home sold between $200k-$250k in early 2020. The current assessed value of $271k reflects market changes and city assessment formulas over five years. For an accurate current market value, consultation with a local real estate professional and a review of recent comparable sales is essential.