Property Overview: 192 Youville Street, Winnipeg
Key Characteristics & Appeal
This home is defined by its compact size and significant lot. Built in 1928, its 564 sqft living area is notably smaller than most homes in Norwood East, the immediate street, and city-wide. This positions it as one of the most modestly sized properties in comparison. However, it sits on a generous, roughly 4,773 sqft lot that is typical for the local area. The assessed value of $243k is consistently below average across all comparison levels, reflecting the home's smaller footprint and age.
The primary appeal lies in its value proposition and potential. It suits a specific buyer: those seeking an entry point into homeownership with a focus on land over interior space. It's ideal for a minimalist, a hands-on investor looking for a renovation or redevelopment project (subject to zoning), or a buyer who values a larger outdoor area for gardens or expansion more than a large existing house. The below-average price for the neighbourhood offers an opportunity to gain a foothold in the area, with the understanding that the home itself requires a lifestyle suited to cozy living or a vision for future change.
Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
As a home built in 1928, its layout and square footage reflect the norms of that era. Many surrounding properties have been expanded, replaced, or were simply built larger in subsequent decades, which is why it ranks so low in comparative size.
2. Does the lower assessed value mean it's a bargain?
It indicates the property is valued lower due to its size and age. Whether it's a bargain depends on your goals. It offers a lower price point for the lot and location, but the cost of any desired updates, renovations, or the suitability of the small living space must be factored in.
3. What can I do with such a large lot relative to the house?
The lot presents options like extensive gardening, adding a shed or garage, or creating outdoor living space. For substantial changes like an addition or building a new home, you must consult the City of Winnipeg's zoning bylaws and obtain the necessary permits.
4. How reliable is the sold price data from 2016?
The provided sold price range (CA$150k-200k) is from publicly available data, not the MLS. It offers a historical benchmark, but market conditions have likely changed since 2016. For verified, exact historical figures, you would need to request a manual lookup from the site.
5. Is the age of the home a major concern?
A 98-year-old home comes with character but also requires diligent inspection. Key considerations include the condition of the foundation, roof, plumbing, electrical systems, and insulation. A thorough professional home inspection is essential to understand any needed repairs or updates.