Property Overview: 395 De La Morenie Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic, one-storey home in the sought-after Central St. Boniface neighbourhood, built in 1943. Its primary appeal lies in its generous, above-average lot size (over 5,100 sq ft), which is a standout feature for the area and offers significant potential for gardening, expansion, or outdoor living. The home itself is modest in size at 924 sq ft, with a detached garage and an unrenovated basement, positioning it as a true blank canvas or starter home.

The property suits buyers looking for a character home in a prime location, ready to put their own stamp on it. It’s ideal for a first-time buyer comfortable with a project, an investor seeking a property with strong land value, or someone wishing to downsize into the neighbourhood without paying for finished square footage they may not need. A thoughtful perspective is that the larger lot and smaller house create a unique value proposition: you’re investing more in the land and location of St. Boniface than in maintaining a large interior, which can mean lower property taxes and utility costs relative to the lot's potential.

Section 2: Frequently Asked Questions

1. What does "unrenovated basement" typically mean for a home of this era?
It generally indicates the basement is in original or functional condition, but not modernized. Expect a concrete floor, basic finishes, and older mechanical systems (like the furnace or wiring). It offers utility and storage space but will require investment to become a finished living area.

2. How does the assessed value relate to the likely sale price?
The municipal assessed value ($28,800) is for taxation purposes and is typically far below market value. The last known sale was in 2018 for $280,000. Current market price will be determined by recent sales of comparable homes, buyer demand, and the home's condition.

3. Is the smaller living area a concern?
It depends on your needs. For a single person, couple, or small family, it can be efficient and cozy. The larger lot also helps offset this, as outdoor space can effectively extend your living area. For those planning a future addition, the lot size is a major asset.

4. What are the implications of the home's age (1943)?
You gain the charm and solid construction of a pre-war home, often with mature trees on the lot. However, be prepared for potential updates to major systems like plumbing, electrical, or insulation to meet modern standards and efficiency. A thorough inspection is essential.

5. Why is the lot size highlighted as a key feature?
In established, inner-city neighbourhoods like St. Boniface, large lots are increasingly rare. A lot this size provides valuable flexibility—whether for adding a deck or garden, creating off-street parking, or potentially extending the home—which often holds and increases the property's long-term value more reliably than interior finishes.