Property Overview & Key Characteristics
This one-storey home on a generous 3,893 sqft lot in St. John's is a property defined by its history and potential. Built in 1907, its key appeal lies in the substantial lot size, which ranks within the top 39% on the street, offering rare space for expansion, gardening, or outdoor living in an established neighbourhood. With a modest 845 sqft living area, the house itself presents a clear opportunity for renovation or re-imagination to match the lot's potential. Its very low assessed value reflects its current state, but the sale price from 2021 suggests the market recognizes the underlying value in the land and location.
The property would best suit a hands-on buyer looking for a project, whether that's a careful renovation to preserve its character or a complete rebuild. It's also a practical entry point into homeownership for those comfortable with a property that requires investment over time. A less obvious perspective is its appeal to a multi-generational family; the large lot could accommodate a future secondary suite or addition, a valuable option in a mature neighbourhood where such space is uncommon.
Frequently Asked Questions
1. Is this a tear-down property?
While the data doesn't dictate this, the combination of the home's age (119 years), modest size, and the significant value lying in the large lot makes it a prime candidate for major renovation or redevelopment. The decision would depend on a buyer's goals and a professional inspection.
2. Why is the assessed value so much lower than the 2021 sale price?
Municipal assessed value for tax purposes often lags behind market value, especially for older homes on valuable land. The 2021 sale price of $150k is a stronger indicator of what the market is willing to pay for the property's potential.
3. What are the implications of having no basement?
This limits traditional storage and mechanical space, which may require creative solutions within the home's footprint or the addition of a shed. On the positive side, it can mean fewer moisture issues common in older Winnipeg homes and a single-level living layout.
4. The home is older—what should I budget for immediately?
Beyond any desired cosmetic updates, priority should be given to evaluating and potentially updating fundamental systems like wiring, plumbing, and the roof. The structure itself, given its age, should be thoroughly inspected for integrity.
5. How does the lack of a garage affect property value?
While a garage is a common amenity, the large lot is a compensating feature. There is ample space to add a garage or a parking pad, which could be seen as a value-add project rather than a permanent drawback.