Property Overview & Appeal
This two-storey home on Lipton Street is a classic Winnipeg character property built in 1912. Its key appeal lies in its established St. Matthews neighbourhood location and its generous, above-average lot size of over 2,350 square feet, which ranks in the top 3% city-wide. The house itself offers a comfortable 1,263 sqft of living space. While it features a basement, it is noted as not being renovated, and the property does not include a garage or pool. The assessed value is modest relative to the lot size, which may present an opportunity.
This home would suit a buyer who values space and potential over immediate move-in perfection. It’s ideal for someone looking to put down roots in a central, mature neighbourhood and who is comfortable with a project, whether now or down the line. The large lot is a significant asset for gardeners, those seeking outdoor space, or future expansion. It’s a practical choice for a first-time buyer or an investor who sees value in the land and the solid foundation of a century-old home.
Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
It usually indicates a functional but unfinished or dated basement. Expect a classic Winnipeg cellar with concrete walls and floor, suitable for storage and utilities, but not developed as living space.
2. How significant is the lack of a garage?
On-street parking is common in this area. The large lot does provide potential for adding a garage or parking pad in the future, subject to city bylaws and permits.
3. The assessed value seems low; is that a concern?
Not necessarily. Municipal assessments for tax purposes often don't directly correlate with market value, especially for older homes on large lots. The price is determined by the market, not the assessment.
4. What are the implications of a 114-year-old house?
You inherit charming character but should budget for ongoing maintenance. A thorough inspection is essential to understand the condition of major aged components like the roof, plumbing, and wiring.
5. How does the lot size compare to newer homes?
The lot is a standout feature. At 2,354 sqft, it is substantially larger than many modern infill lots, offering valuable outdoor space that is increasingly rare in central neighbourhoods.