Property Overview: 725 Lipton Street, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home in Daniel McIntyre is a classic Winnipeg character property, built in 1912. With 1,216 sqft of living space, it offers a comfortably sized layout that is very typical for its neighbourhood and street, neither notably large nor small in comparison. It features a detached garage and a full, unrenovated basement, presenting a blank canvas for future development.

The primary appeal lies in its established location and its value proposition. The home’s assessed value is modest, especially when viewed citywide, which suggests a potentially accessible entry point into the market. For the neighbourhood, it sits around the average, indicating it’s priced in line with the local area. The lot, while below average in size for the city, is standard for the inner-core, offering manageable outdoor space with less maintenance.

This property would best suit a practical buyer who appreciates older home character and is prepared for the upkeep that comes with it. It’s a solid candidate for a first-time homebuyer seeking affordability in a central community, or for an investor looking for a rental property with a stable, historical baseline value. The unrenovated basement is a key point: it represents a future opportunity for added living space or income potential, but requires immediate investment only if needed.

Section 2: Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value ($20,800) is for municipal tax purposes. The last recorded sale was in August 2022 for $27,500. The current market value will be determined by recent sales, condition, and market demand.

2. What does "unrenovated basement" typically imply?
It likely means the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates to flooring, lighting, and possibly moisture management, but it also offers the advantage of no prior renovations to undo.

3. How does the lot size impact living here?
At 2,346 sqft, the lot is smaller than the Winnipeg average but standard for Daniel McIntyre. This means smaller yard maintenance, but also limited space for major expansions, large decks, or extensive landscaping.

4. The home is over 110 years old. What should I be prepared for?
Character comes with considerations. Be prepared for potential updates to original systems like wiring or plumbing, and typical maintenance of older windows, plaster, and foundations. A thorough inspection is essential.

5. How does this property compare to others on the street?
The data shows this home is very representative of Lipton Street. Its living area, age, and assessed value are all around the average for the street, meaning it fits right into the fabric of the block without standing out as unusually large, small, new, or expensive.