Property Overview

This 3-level split home at 771 Sturgeon Road in Winnipeg's Booth neighbourhood presents a practical opportunity. Built in 1967, it sits on a generous 4,176 sqft lot, which is notably larger than most in the immediate area. The 1,258 sqft living space is modest but functional for its type. Key data points suggest its underlying value lies more in its land and location than in its current structure. The assessed value is relatively strong for the neighbourhood, and while the home sold in 2021, it appears to be an entry-level property with room for updates. The appeal here is grounded in potential: a sizable lot in an established area at a price point that allows for gradual improvement.

Key Characteristics & Ideal Buyer

The home’s primary characteristic is its balance of a very good-sized lot with a manageable, unrenovated house. Its appeal lies in its position as a solid, no-frills canvas. It ranks highly for lot size within its street and neighbourhood, offering outdoor space and future possibilities that are harder to find at this price point. The unrenovated basement and overall condition mean the purchase price primarily secures location and land, leaving the interior to be shaped by the new owner over time.

This property would suit a first-time buyer or a practical investor comfortable with a home that needs work. It’s ideal for someone who values space and location over immediate move-in perfection and sees the benefit in building equity through sweat equity. A less obvious perspective is that this type of property can serve as a strategic foothold in a stable neighbourhood, where the value of the land provides a floor, and any improvements directly increase the owner’s equity without the premium of a fully renovated home.

Frequently Asked Questions

1. What does the "rank" data actually mean?
The rankings compare this property against others on its street, in the Booth neighbourhood, and across Winnipeg. For example, its land area is in the top 15% on its street, meaning it's larger than 85% of its direct neighbours—a significant positive.

2. Is the basement finished?
No, the basement is noted as "not renovated," meaning it is unfinished or in a basic, original state. This represents both a project and an opportunity for future living or storage space.

3. How does the 2021 sale price relate to the current assessed value?
The home sold for $28,000 in May 2021, and its current assessed value is $25,500. This suggests the city's assessment is in line with its recent market transaction, indicating a stable, entry-level valuation.

4. What are the implications of having no garage?
The lack of a garage means lower maintenance costs and taxes but requires alternative parking and storage solutions. For some buyers, this trade-off helps achieve an affordable price in the neighbourhood.

5. Who might the "similar assessed value" properties be for?
The listed properties with similar assessed values ($25.50k) are useful for understanding municipal tax comparisons. They are not necessarily similar in style, size, or condition, but show what the city values similarly for tax purposes across Winnipeg.