Property Overview & Appeal

This home at 157 Masson Street is a compact, historic one-and-a-half storey in Winnipeg's Central St. Boniface neighbourhood. Built in 1890, its key characteristic is its age, placing it among the oldest homes in the area. With 825 sqft of living space and a renovated basement, it offers a modest footprint on a lot that is smaller than most on its street. The home last sold in 2022 for $29,500 and currently holds an assessed value of $270,000, which is notably lower than both the street and city-wide averages.

The appeal lies in its potential as an entry point into a historic neighbourhood, likely appealing to buyers seeking affordability and character over space. It would suit a first-time buyer, an investor looking for a rental property, or someone wanting a low-maintenance base in a central location. A thoughtful perspective is that its lower assessed value, compared to nearby sales, could indicate an opportunity for value increase through updates, or it may reflect the costs associated with maintaining a 134-year-old structure. This isn't a home for those needing ample room, but rather for those who value location and history, and are comfortable with a project or a cozy, efficient layout.

Frequently Asked Questions

1. Is the low sale price from 2022 a concern?
Not necessarily. A significantly lower prior sale can indicate a past estate sale, distressed sale, or major property condition at the time. It underscores the importance of a thorough current inspection and understanding the work done since.

2. How significant is the smaller lot size?
The land area is below average for the street. This means smaller outdoor space but also less maintenance. It’s a practical trade-off that contributes to the home's affordability in the area.

3. What are the implications of owning a home built in 1890?
You own a piece of local history, which brings charm. Practically, it requires a proactive approach to maintenance. Systems like wiring and plumbing may have been updated, but the structure's age warrants careful inspection for foundation, insulation, and historical integrity.

4. The assessed value is below average. Is that good or bad?
It can be both. It suggests a lower property tax burden, which is a positive. However, it also reflects that the market currently values this property below others in the area, which could be due to its size, condition, or specific features.

5. Who is this home not suited for?
It's likely not ideal for growing families needing multiple bedrooms and living spaces, or for buyers who want a move-in-ready home with modern, open-concept layouts without any renovation projects. It’s best for those with realistic expectations about vintage homes.