Property Overview & Key Characteristics
This is a character-filled, one-and-a-half storey home built in 1902, situated on a generous 3,011 sqft lot in Winnipeg's South Portage area. Its key appeal lies in the combination of historic charm, a renovated basement, and a prime downtown-adjacent location. The home itself offers 1,146 sqft of living space, presenting a manageable scale for a variety of buyers.
The property’s standout feature is its land. The lot size ranks in the top tier for its street and neighbourhood, offering rare potential for expansion, gardening, or outdoor living in a central locale. While the structure is historic, the renovated basement adds modern functionality. This home would particularly suit a first-time buyer or downsizer seeking a character property with outdoor space close to the city's core, or an investor-builder who recognizes the long-term value of the land. It’s a home for those who value location and lot size over sheer square footage, and who are prepared for the stewardship of a century-old building.
Frequently Asked Questions
1. What does a "renovated basement" typically mean for a home of this age?
It generally indicates updated finishes and likely addressed foundational concerns like moisture control or insulation. Given the home's age, it's wise to inquire about the scope and permits for the renovation, as well as the basement's ceiling height and primary use (e.g., living space, laundry, storage).
2. The assessed value seems low compared to similar properties. Why is that?
Municipal assessed value is for tax purposes and often lags behind market value, especially for older homes with unique lots or recent renovations. It should not be used as a direct indicator of sale price, which is determined by current market conditions and the property's specific appeal.
3. What are the practical implications of a "Detached" garage?
It offers excellent storage or workshop space separate from the house. However, consider access in winter and the walk to your vehicle. Its condition, size, and potential for conversion or upgrade are important factors to assess.
4. As a 124-year-old home, what should I budget for beyond the purchase price?
Prospective buyers should plan for potentially higher maintenance costs and updates to older systems. While the basement is renovated, priorities often include the roof, original windows, plumbing, electrical wiring, and ensuring the heating system is efficient for Winnipeg winters.
5. The lot is large for the area. What are my options for it?
The sizable lot is a major asset. Options could include creating a spacious private garden, adding a deck or patio for outdoor living, or, subject to zoning bylaws and heritage designations, future expansion of the home or even redevelopment. This flexibility adds long-term value.