Property Summary: 104 Old Mill Road, Winnipeg

Key Characteristics & Appeal

This 1958 one-storey home in Birchwood sits on a large, 7,494 sqft lot, a standout feature that places it in the top 20% for lot size on its street. The home itself offers 1,186 sqft of living space and features a renovated basement. Its recent sale in October 2023 for $33,400k, closely aligned with its current assessed value, suggests a stable and transparent market valuation.

The primary appeal lies in its generous outdoor space and the potential that comes with an older, well-located property. The large lot is a significant asset in an established neighbourhood, offering room for gardening, expansion, or simply more privacy than newer subdivisions typically provide. The renovated basement adds functional living space without the immediate need for a major project. This property would suit a practical buyer looking for a solid starter home or a long-term residence with room to grow. It’s ideal for someone who values space over a modern build, is comfortable with the character and maintenance considerations of a 68-year-old home, and sees the lot size as a long-term investment. The recent sale also provides a clear, recent comp for buyers, reducing uncertainty about its market price.

Frequently Asked Questions

1. What does the ranking data (e.g., "Top 6% in same street") actually mean?
This data compares specific features of 104 Old Mill Road against similar properties on its street, in Birchwood, and across Winnipeg. For example, its living area is in the "Top 6% on the same street," meaning it is larger than 94% of its immediate neighbours, which is a positive standout. Conversely, its age ranks it as newer than only 23% on its street, confirming it's one of the older homes in the area.

2. The home sold recently in October 2023. Why is it back on the market?
While the listing does not state a reason, a quick resale can be due to many common life changes unrelated to the property itself, such as a job relocation, change in family circumstances, or a shift in investment strategy. The close alignment between the recent sale price and current assessed value suggests no major, unexpected issues with valuation.

3. How significant is the lack of a garage?
The absence of a garage is a trade-off for the large lot. It may require budgeting for alternative parking or storage solutions. However, the lot size itself provides the potential to add a garage or carport in the future, subject to local bylaws and permits, which could be a worthwhile investment for the right buyer.

4. What are the implications of the "renovated basement"?
A renovated basement adds immediate liveable square footage, which is a major plus. It's important to clarify the scope and quality of the renovation, including whether it was permitted, the materials used, and if it addresses core concerns like moisture control and ceiling height in an older home.

5. The assessed value and recent sale price are very close. Is this good?
Generally, yes. This close alignment typically indicates the property is not dramatically over- or under-priced relative to the municipal assessment, which can provide a buyer with confidence in the listing price. It suggests a stable, realistic market position rather than a speculative ask.