Property Overview
183 Des Meurons Street is a compact, century-old home in Winnipeg's Norwood East neighbourhood. Its key characteristics are defined by how it compares to other properties. With 615 square feet of living space, it is significantly smaller than most homes on its street, in the area, and across the city. Its assessed value of $208,000 is also well below local averages. The home was built in 1909, making it notably older than its peers, and it sits on a 1,551 sqft lot, which is smaller than nearly all comparable properties.
The appeal of this home lies squarely in its value proposition and potential. It represents a lower-priced entry point into a mature neighbourhood, which could suit a first-time buyer, an investor, or someone looking to downsize with minimal debt. Its age suggests classic character, but also implies that maintenance and updates are important considerations. A thoughtful perspective is that its below-average metrics across the board present a clear canvas; its value will be determined less by market averages and more by the vision and investment of its next owner.
This property would best suit a pragmatic buyer who prioritizes location and affordability over size, and who is prepared for the responsibilities of an older home. It’s not for someone seeking ample space or a turn-key property, but rather for a hands-on individual or investor who sees opportunity in its foundational price point.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes?
The assessed value reflects the home's smaller size, older age, and more compact lot compared to area averages. It is primarily a function of the property's physical characteristics rather than the condition of the neighbourhood.
2. What are the main considerations with a home built in 1909?
Buyers should budget for and investigate updates to major systems like wiring, plumbing, and heating. The home's character is a plus, but its age necessitates a thorough inspection to understand the condition of the structure and foundation.
3. Is the small lot size a major disadvantage?
While it offers less private outdoor space than most area homes, it also means less maintenance. This could be an advantage for a buyer seeking a low-maintenance yard or who prefers nearby public parks.
4. How reliable is the sold price data shown?
The site notes that sold price data is from public sources, not the MLS, and has had limited verification. For fully verified figures and a complete transaction history, you must request a manual lookup via email from the site.
5. Could this be a good investment property?
Given its lower entry price in an established neighbourhood, it has potential as a rental investment. However, profitability would depend heavily on purchase price, renovation costs, and the rental market, and should be evaluated with those specific numbers in mind.