Property Overview

This 1912 one-and-three-quarter storey home at 257 Albany Street in Deer Lodge offers a blend of historic character and modern practicality. With 1,152 sqft of living space, it sits above average for its immediate street but is comparably sized within the wider neighbourhood and city. A key updated feature is its renovated basement, adding functional living space. The lot is modest at 2,498 sqft, which means lower maintenance but less private outdoor space. Its recent sale price and assessed value are notably below area averages, positioning it as a more accessible entry point into the market.

Key Characteristics & Appeal

The primary appeal of this home lies in its value proposition and move-in readiness within a well-established neighbourhood. It suits first-time buyers or downsizers seeking an affordable, character home without a major renovation project, thanks to the updated basement. The smaller lot will appeal to those who prefer minimal yard upkeep. A thoughtful perspective is that while the home is older, its "below average" assessed value in Deer Lodge suggests a potentially lower property tax burden compared to neighbouring, higher-valued homes. This creates an opportunity to live in a mature community with a relatively lower ongoing cost. The compact lot also fosters a low-maintenance lifestyle, freeing up time and resources.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common Winnipeg architectural style, typically featuring a full main floor and a second floor with sloped ceilings where the roofline begins, creating cozy, character-filled bedrooms.

2. Is the below-average assessed value a concern?
Not necessarily. It primarily reflects the home's age, size, and recent sale price for municipal tax purposes. It can be an advantage, resulting in lower annual property taxes than newer or larger homes in the same area.

3. What are the implications of a smaller lot size?
The 2,498 sqft lot requires less maintenance, which is ideal for busy individuals or those not wanting extensive gardening. The trade-off is limited space for additions, large decks, or extensive private landscaping.

4. The home is older—what should I check?
While the basement is renovated, it's wise to have a standard inspection focus on the foundational structure, roof (given its age), and updates to major systems like wiring and plumbing to understand any future maintenance timelines.

5. How does the recent sale price compare?
The February 2025 sale price of $26.50k is consistent with its low assessed value and reflects the home's specific characteristics. It indicates a purchase well below the typical price point for Deer Lodge, offering a distinct value position in the neighbourhood.