Property Overview & Appeal

This is a modest, century-old one-and-a-half storey home on a standard city lot in Central St. Boniface. Its key characteristic is its exceptionally low municipal assessed value, which is significantly below averages for the street, neighbourhood, and city. The living space of just over 1,000 sqft is typical for the area, but the 1900 build date makes it one of the oldest homes in its immediate comparison groups.

The primary appeal lies in its potential as a land-value opportunity or a foundational project for a specific buyer. It suits an investor or handy purchaser looking for a low entry point into the St. Boniface area, with plans for a significant renovation or rebuild. It is not a move-in-ready home and would not suit a buyer seeking convenience or modern finishes without a major commitment. A thoughtful perspective is that its low assessment, while reflecting its current state, could present a long-term property tax advantage once improved, relative to other homes in the area.

Frequently Asked Questions

1. Why is the assessed value so much lower than the sale price from 2020?
Municipal assessments are for taxation purposes and often lag behind market values. The 2020 sale price likely reflected the market value at that time, while the current assessment may be based on older data or formulas that heavily weigh the home's age and condition.

2. What does the age of the home (1900) mean for a buyer?
It signifies great historic character but also requires careful consideration. While it pre-dates modern building codes, wiring, and plumbing standards, it also means the home has stood for over a century—a testament to its original build quality. A thorough inspection is essential to understand the state of its foundational structure and systems.

3. With no basement and no garage, what are the storage and utility implications?
All living and mechanical systems (furnace, water heater) must be accommodated on the main floors, reducing usable living space. Vehicle parking will be on-street or via a potential driveway addition, and seasonal storage will require creative solutions or off-site rental.

4. The lot size is noted as "around average" for the street but "below average" for the area. Is the lot a good size?
At approximately 3,126 sqft, the lot is a standard city footprint for its specific street. The "below average" comparison for St. Boniface simply means many lots in the wider neighbourhood are larger. It is a typical, usable urban lot, not unusually small.

5. Who would be the most likely type of buyer for this property?
This property is a project. The most likely buyers are value-seeking investors, builders looking for a lot with an existing structure, or very hands-on owner-occupants with a clear vision and budget for a full-scale renovation or redevelopment. It is not suited for a first-time buyer unprepared for a major project.