Property Overview: 441 Louis Riel Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home on a standard-sized lot in Central St. Boniface. Built in 1946, its key feature is a renovated basement, adding valuable functional space to the 704 sqft main floor. The property includes a detached garage.

Its primary appeal lies in its location within a sought-after neighbourhood and its efficient, low-maintenance footprint. The renovated basement presents a clear opportunity to create additional living, rental, or recreational space without the initial renovation work. The lot size is typical for the area, offering decent outdoor space without being burdensome to maintain.

This home would best suit a first-time buyer, an investor, or a downsizer looking for an entry point into St. Boniface. It’s a practical choice for someone prioritizing location over square footage, who sees potential in the expanded livable area the basement provides and is comfortable with a character home of this era. The very low assessed value suggests it may be a project or value-play, appealing to those with renovation vision or a tight budget seeking neighbourhood equity over a large house.

Section 2: Frequently Asked Questions

1. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the finish quality, layout, or if it includes a separate entrance. This is a key detail to verify through a viewing, as it impacts the home’s utility and value.

2. How does the small living area (704 sqft) compare to the neighbourhood?
The data shows this home’s main floor living area is significantly below average for both Louis Riel Street and Central St. Boniface. This underscores the importance of the basement renovation in making the overall property functional.

3. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on municipal evaluation for tax purposes and is heavily influenced by the home’s modest size and age compared to the Winnipeg-wide average. It reflects its value as a structure, not necessarily the market price of the land in a desirable location.

4. The home last sold in 2017. What might have changed since then?
The 2017 sale provides a historical price point. The key change noted is the basement renovation, which likely adds value. Market conditions and general upkeep since that time would be important to assess.

5. Is the detached garage a standard feature here?
The presence of a detached garage is a positive asset. On a standard city lot, its size and condition (and whether it’s insulated or heated) would be good to clarify, as it affects storage and utility.