Property Overview: 55 Lloyd Street, Norwood West
Key Characteristics & Appeal
This is a compact, century-old home (built 1911) on a standard lot in the established Norwood West neighborhood. Its key characteristic is its modest scale: at 640 sqft of living area, it is notably smaller than most homes on its street, in the area, and across Winnipeg. This is reflected in its assessed value of $207k, which sits below local averages. The lot size of 2,945 sqft is also more compact than typical area properties.
The primary appeal lies in its position as an accessible entry point into a mature, central neighborhood. It suits buyers seeking a lower-cost foothold in a desirable area, potentially including first-time homeowners, downsizers, or investors looking for a manageable rental property. The smaller size translates to lower utility costs and less maintenance, which can be a thoughtful trade-off for the right buyer. It represents a practical opportunity rather than a premium one, ideal for those who prioritize location and affordability over space.
Frequently Asked Questions
1. Why is the assessed value significantly lower than area averages?
The assessed value is closely tied to the home's relatively small living area and compact lot size compared to neighboring properties, resulting in a valuation that reflects its more modest physical footprint.
2. What should I consider with a home of this age (1911)?
While the data doesn't specify condition, a 115-year-old home will likely require a diligent inspection. Potential buyers should budget for updates to older systems like wiring, plumbing, and insulation, balanced against the character and solid construction often found in homes of this era.
3. How does the small living area compare practically?
At 640 sqft, the home is functionally compact. It would suit a single person, a couple, or potentially a very small family comfortable with efficient living spaces. It's significantly smaller than the average area home (over 1,400 sqft), so a viewing is essential to gauge livability.
4. Is the lot size a limitation for expansion or outdoor use?
The lot is under 3,000 sqft, which is smaller than many in Norwood West but still provides reasonable outdoor space for a garden or patio. Any potential for a home addition would be subject to zoning bylaws and would need to be carefully planned given the existing footprint.
5. How can I get exact historical sale price data for this property?
The provided data notes that exact sold prices are not displayed due to industry rules. You can request this information directly via the "Request exact figures by email" link on the detail page, and the service will manually provide the data.