Property Overview: 698 Arlington Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey character home built in 1908, situated on a standard-sized lot in the Daniel McIntyre neighbourhood. Its key appeal lies in its position as an accessible entry point into the Winnipeg market. With a living area of 792 sq ft, it is notably smaller than most area homes, which suggests a property suited for minimalists, first-time buyers, or investors. It features a detached garage and a basement that is present but not renovated, indicating potential for future expansion or storage.

The home’s most defining characteristic is its significantly low municipal assessed value, placing it in the bottom tier compared to both the street and the city. This, coupled with its recent sale price, positions it as one of the most affordable single-family home options available. It would suit a practical buyer who prioritizes location and ownership over size or modern finishes, and who is comfortable with a home that requires updates. A less obvious perspective is that its small footprint and older construction could translate to lower utility costs and a simpler, more manageable maintenance routine compared to larger, more complex properties.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the recent sale price?
Municipal assessments for tax purposes often lag behind current market values and are calculated using a specific formula. The sale price reflects what a buyer was willing to pay in the open market, which can be influenced by factors beyond the assessment.

2. What does "basement, not renovated" typically mean for a home of this age?
It likely indicates a functional but unfinished space, common in homes from this era. Buyers should budget for potential updates to insulation, flooring, or moisture management, but it also presents a blank canvas for future development.

3. The home is smaller than area averages. What are the implications?
The smaller size makes it inherently more affordable to heat and maintain. While storage and living space are compact, it encourages efficient use of space and may be ideal for those looking to reduce their living footprint without leaving the city core.

4. How does the age of the home (1908) affect ownership?
While offering character, a home of this age will have systems (like plumbing and wiring) that may have been updated over time. A thorough inspection is crucial to understand the condition of these core components and plan for any necessary upgrades.

5. Who would this property not be well-suited for?
It may not suit buyers looking for a move-in-ready, modernized home or those who need multiple bedrooms and ample living space for a growing family. The value here is in the land, location, and the opportunity to customize over time, not in immediate turn-key convenience.