Property Overview: 179 Hill Street, Norwood East, Winnipeg
Key Characteristics & Appeal
This 1931 home in Norwood East presents a straightforward, value-oriented opportunity. Its key characteristic is its compact size, with a living area of 786 sqft that is below average for the street, neighborhood, and city. This is reflected in its assessed value of $262k, which also sits below local averages. The lot, at just under 4,000 sqft, is modest but typical for the area.
The appeal lies in its position as an accessible entry point into a mature, established neighborhood. It suits first-time buyers, downsizers, or investors seeking a lower-cost foothold in Winnipeg. The home’s below-average metrics compared to its surroundings suggest a potentially lower purchase price, which could allow for budget-conscious renovations or simply offer manageable monthly costs. A thoughtful perspective is that a smaller, older home like this often comes with lower utility bills and property taxes, providing long-term affordability that isn't always apparent in the listing price. Its age (95 years) means charm and character are likely, but it also necessitates a practical focus on maintenance and potential updates.
Frequently Asked Questions
1. Is this a small house?
Yes. At 786 sqft, the living space is notably smaller than most homes in Winnipeg, on its street, and in Norwood East. It is a compact property ideal for those seeking minimal space to maintain.
2. Why is the assessed value lower than the neighborhood average?
The assessed value of $262k is below area averages primarily due to the home's smaller size and older age. Assessment typically reflects these physical characteristics, resulting in a lower valuation than larger, more recently updated homes nearby.
3. What can the past sale price tell me?
The home sold between $250k-$300k in mid-2021. This provides a recent benchmark, but market conditions have changed. This historical price, combined with its below-average current assessment, can be a starting point for understanding its value trajectory.
4. What are the main considerations for a home built in 1931?
Key considerations include the condition of major aging components like the roof, plumbing, electrical wiring, and foundation. While offering charm, a home of this age may require updates to meet modern efficiency and safety standards.
5. How does the lot size compare?
The lot is 3,951 sqft, which is slightly below average for Hill Street but fairly typical for central Winnipeg neighborhoods. It provides a standard urban yard space but is not as large as lots found in newer suburban areas.