Property Overview & Key Characteristics

This one-and-a-half storey home on Lipton Street, built in 1905, presents a classic Winnipeg character property with a renovated basement. Its appeal lies in its balance of historic charm and practical updates within the established Daniel McIntyre neighbourhood. At 1,232 sqft, the living space is squarely average for the area, offering a comfortable footprint without being overwhelming. The lot size is also typical for the street, providing a manageable outdoor space.

The home’s most notable characteristic is its assessed value, which is significantly below both the street and city-wide averages. This positions it as an accessible entry point into the market or a strategic opportunity for value-conscious buyers. The recent basement renovation adds modern functionality to the historic structure. This property would suit a first-time buyer looking for character over a new build, an investor seeking a property with a strong value proposition, or someone who appreciates the mature streetscape and convenience of the central location. It’s a home for those who see potential in well-maintained older properties and are comfortable with the nuances they can bring.

Frequently Asked Questions

1. What does the below-average assessed value indicate?
It primarily suggests the property is valued lower for municipal tax purposes compared to many peers. This can be appealing for ongoing tax savings, but it’s important to note that assessed value is not market value—the home last sold in 2022 for $200,000.

2. Are there concerns with a home built in 1905?
While the renovated basement is a positive update, the age of the home means potential buyers should prioritize inspections for the main structure, foundation, roof, and original mechanical systems like wiring and plumbing to understand any needed updates or maintenance.

3. What is the "one-and-a-half storey" design?
This typically means the second level has sloped ceilings (following the roof line) and potentially smaller rooms, offering cozy character but less full-height space than a pure two-storey home. It’s a defining feature of many early 20th-century Winnipeg houses.

4. How does the lack of a garage affect daily living?
With no garage, on-street parking is the standard. Buyers should consider their comfort with this, particularly during winter parking bans, and assess the street for typical parking availability.

5. The lot size is noted as below average city-wide. Is that a drawback?
This is very common for central, older neighbourhoods. The lot is average for the street, meaning it fits the neighbourhood pattern. It offers lower maintenance than a large yard but less private outdoor space than you’d find in suburban areas.