This one-and-three-quarter storey home, built in 1883, presents a classic character property on a good-sized lot in Winnipeg's Spence neighbourhood. Its key appeal lies in its combination of historic charm and clear potential. With a living area of 966 sqft and a full, unrenovated basement, it offers a compact but functional layout. The assessed value is notably low, which can translate to very manageable property taxes—a significant and often overlooked long-term savings. This home would particularly suit a first-time buyer, an investor looking for a character rental, or a hands-on individual eager to gradually restore a piece of local history. Its smaller footprint makes renovations more approachable than a larger heritage home, offering a unique entry point into Winnipeg's older housing stock.
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What does "One & 3/4 Storey" mean? This is a common Winnipeg architectural style, typically featuring one full floor and a second floor under a steeply sloped roof, creating cozy bedrooms with angled ceilings. It maximizes space in a classic, efficient design.
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The assessed value seems very low. What does that indicate? The low assessment strongly suggests the home requires significant updates or modernization. It reflects the property's current condition for tax purposes, not its market price. The upside is that property taxes will be comparatively low.
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Is the unrenovated basement a concern? It indicates both a project and an opportunity. While it will need work to become finished living space, it provides crucial storage, mechanical space, and a blank canvas for future development, which is a valuable asset in an older home.
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How does the lot size compare? At 2,285 sqft, the lot is above average for the street. This is a major plus, offering more outdoor space than many neighbouring properties and potential for gardening, expansion, or simply more privacy.
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The home is very old. What should I check first? Any purchase of a home from this era should include thorough inspections focusing on the foundation, structural integrity, wiring, and plumbing. The roof and windows are also key points, as updating these can greatly improve energy efficiency in a historic home.