Property Overview: 120 Hill Street, Norwood East, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, character home built in 1940, presenting a classic opportunity in Winnipeg's Norwood East neighbourhood. Its primary appeal lies in a value proposition centered on land and location rather than interior size.
The home itself is compact at 738 sq ft, which is notably smaller than most comparable properties in the area and city. This suggests a cozy, efficient layout that may appeal to minimalists or those looking for a lower-maintenance interior space. The assessed value of $293k is competitive for the immediate street and neighbourhood, sitting slightly below the city-wide average, which indicates a potentially accessible entry point into the market.
The standout feature is the lot. At 5,276 sq ft, the land area is significantly larger than average for both Hill Street and the wider Norwood East area. This offers valuable outdoor space for gardening, expansion, or simply enjoying a larger yard—a rarity for homes of this vintage and price point in the city.
This property would best suit a first-time buyer, an investor, or a downsizer who prioritizes lot size and neighbourhood character over living square footage. It’s for someone who sees potential in the land and the solid foundation of a well-aged home, possibly viewing the smaller interior as a canvas for a thoughtful renovation or addition in the future.
Section 2: Frequently Asked Questions
1. Is the smaller living area a concern?
While the home's interior is compact, it reflects the efficient design of its era. For the right buyer, this can mean lower utility costs and less space to maintain. The trade-off is the generous lot size, which offers expansion potential.
2. How does the assessed value relate to the likely selling price?
The assessed value is a municipal estimate for tax purposes and is typically close to market value in stable areas. Here, it aligns well with recent neighbourhood sales. It serves as a strong baseline, but the final price will be determined by current market conditions and the home's specific condition.
3. What does the larger lot size mean for me?
A lot of this size in an established neighbourhood is a significant asset. It provides ample private outdoor space and, subject to zoning and permit approvals, could allow for future projects like a garage, workshop, or home extension that smaller lots cannot accommodate.
4. Are there risks with a home built in 1940?
As with any older home, the condition of major systems (roof, wiring, plumbing, foundation) is crucial. A thorough professional inspection is essential. The upside is that these homes were often built with durable materials and craftsmanship, and many have stood the test of time with proper upkeep.
5. How can I get the exact historical sale prices for this property?
The provided data shows a past sale range. For verified, exact sale figures and a full transaction history, you must request a manual lookup from the site via email, as this information is not sourced from or displayed on the public MLS system.