Property Overview: 567 Lipton Street, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 1914, offers a compelling blend of historic character and practical space. Its primary appeal lies in its generous 1,628 sqft living area, which ranks well above average for both the immediate street and the Daniel McIntyre neighbourhood. This suggests a home with ample room for a growing household or for those who value spacious interiors over a large yard. The lot is a standard city size for the area, prioritizing the home's footprint over extensive outdoor space.

The property’s assessed value is notably modest, especially when compared to the city-wide average. This creates a distinct value proposition: you are acquiring significantly more interior space per dollar here than in many other parts of Winnipeg. The home presents as a solid, unrenovated canvas, featuring a basement and no garage. It last sold in 2018.

This home would suit a value-conscious buyer—perhaps a first-time purchaser or a pragmatic investor—who prioritizes interior square footage and sees potential in a character home. It’s ideal for someone comfortable with a property that may require updates, in exchange for securing a spacious footprint in a central neighbourhood at an accessible price point. A less obvious perspective is that its "average" assessment on its street, combined with above-average size, could indicate an opportunity to add value through thoughtful renovations in a stable, established setting.

Section 2: Frequently Asked Questions

1. What does "above average" living area actually mean for this home?
In practical terms, at 1,628 sqft, this home offers roughly 465 more square feet of living space than the typical home on Lipton Street and 486 more than the average in Daniel McIntyre. This often translates to additional bedrooms, larger common areas, or more functional layouts.

2. Why is the assessed value so much lower than the city-wide average?
Property assessments are based on many factors, including location, age, condition, and recent sales in the area. The lower assessment here primarily reflects the home’s unrenovated state and its location within a neighbourhood where property values are generally more affordable than the Winnipeg average, not necessarily its liveability or potential.

3. What should I consider about a 1914-built home?
While offering charm and sturdy construction, a home of this age will likely have original components like windows, plumbing, or electrical systems that may need attention or updating. A thorough inspection is essential to understand the condition and plan for any necessary investments.

4. There’s no garage. What are the parking options?
The property listing indicates no garage. Buyers should verify on-street parking regulations with the city and observe the neighbourhood to gauge typical availability. Some homes in the area may have rear laneway access for potential parking pad construction, subject to city bylaws.

5. How does the last sale price from 2018 relate to today’s value?
The 2018 sale price of $20.50k is a historical data point. The current assessed value of $22.90k is the city’s estimate for taxation purposes. The actual market value is determined by current conditions, buyer demand, and the home’s present state, and will be established through a new sale.