Property Overview & Key Characteristics

This one-storey home on a generous 5,217 sqft lot in Winnipeg's Booth neighbourhood presents a classic, no-frills opportunity. Built in 1918, its primary appeal lies in its solid foundation and the significant potential held within its structure and sizable lot. The home itself is modest at 792 sqft and features an unrenovated basement and a detached garage. Its standout features are its comparative rankings: the lot size is well above average for the street and area, and the home's age makes it notably older than most in Winnipeg, suggesting character and a need for updates.

This property would suit a specific type of buyer: a hands-on renovator looking for a blank canvas, an investor interested in the long-term value of the land, or a buyer seeking an entry point into homeownership with the space to expand over time. Its appeal is not in move-in-ready finishes, but in the tangible assets of space and possibility. A thoughtful perspective is recognizing that its above-average rankings for lot size and age (indicating established character) exist alongside very recent sales activity, suggesting it's a property that catches the eye of those seeing value beyond the surface.

Frequently Asked Questions

1. What does "unrenovated basement" typically imply?
It usually means the basement is in original or functional condition, likely with concrete floors and walls, and is suited for storage or utilities rather than finished living space. It represents both a cost-saving on the purchase price and a future project opportunity.

2. The home is noted as being older than most in the city. What should I consider?
While it offers character, prioritize a thorough inspection for foundational integrity, plumbing, electrical (like knob-and-tube wiring), and insulation. Its age is a key part of its charm but dictates a proactive maintenance approach.

3. The lot is large, but what can I actually do with it?
The above-average lot size offers valuable flexibility. Potential uses include adding an addition, creating extensive landscaping or garden space, or providing ample off-street parking. Future development possibilities would be subject to local zoning bylaws.

4. Why did it sell recently in 2023, and is that price relevant?
The 2023 sale indicates active market interest and provides a concrete, recent benchmark for value. The current assessed value is close to that sale price, suggesting stable valuation. Understanding why it was sold after a short period may require further inquiry.

5. Are the "rankings" provided a reliable measure of value?
These rankings are useful comparative tools, not absolute measures. They clearly show this property's lot is larger than many neighbours', while the house itself is smaller and older. This highlights the investment's nature: you are allocating more to land and potential than to existing finished living space.