Property Summary: 43 Lloyd Street, Norwood West, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 43 Lloyd Street is a classic 1920s bungalow in Norwood West, presenting a clear value-oriented opportunity. Its key characteristic is its position as a modest, lower-priced entry point into a well-established neighbourhood. With 865 sqft of living space and a 2,945 sqft lot, the property is compact, particularly when compared to area averages. The assessed value of $185k is notably below the averages for Lloyd Street, Norwood West, and Winnipeg overall.
The primary appeal lies in its affordability and potential. It suits first-time buyers, investors, or downsizers seeking a lower barrier to entry in a central neighbourhood, with the understanding that the home may require updates or serve as a foundation for future expansion. A thoughtful perspective is that its smaller scale and lot size, while below average, could mean lower maintenance costs and property taxes, appealing to those seeking a simpler, more manageable footprint. Its age and value also suggest it's a candidate for renovation or customization to the buyer's taste, rather than paying a premium for a recently modernized home.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes?
The assessed value reflects the property's smaller size, older age, and likely its current condition and features relative to other homes on the street and in Norwood West. It indicates this is a more baseline property in the area.
2. What does the sold price history indicate?
The home sold between $150k-$200k in September 2019. This historical price, combined with the current assessed value, provides a benchmark for its market position, but a professional appraisal and current market analysis are needed to determine its present value.
3. Is the smaller lot size a significant drawback?
While the lot is below the area average, it still provides reasonable outdoor space for a home of this size. It may be a drawback for those wanting extensive gardening or large additions, but it can be an advantage for buyers looking for less yard maintenance.
4. What should I consider due to the home's age (built 1920)?
Prospective buyers should budget for and investigate the condition of major aging components, such as the roof, plumbing, electrical systems, and foundation. An inspection is crucial. The charm of an older home comes with the responsibility of ongoing maintenance.
5. How can I get the exact historical sold prices for this property?
The exact sold prices are not displayed publicly on this site due to data source rules. You can request the full transaction history and exact figures by emailing the site directly using the "Request exact figures by email" option provided.