Property Summary: 262 Conway Street, Deer Lodge, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1941, presents a compelling mix of established character and practical updates. Its key appeal lies in its generous, above-average lot size—ranking in the top 4% on its street—offering significant outdoor space that is increasingly rare. The home itself features a renovated basement and a detached garage, with a living area that is comfortably in line with neighborhood averages.

The property’s assessed value ranks well above average for both the immediate street and the broader Deer Lodge area, suggesting it is viewed as a solid asset within its community. This combination positions it uniquely: it’s a character home on a substantial lot, but without the extreme square footage or premium that can accompany such features in other districts. It would suit a buyer looking for a grounded, established neighborhood feel who values private outdoor space over a brand-new build. It’s particularly suited for those who see potential in the land itself—for gardening, expansion, or simply enjoying a larger yard—and appreciate a home that has already seen thoughtful updates like the basement renovation.

Frequently Asked Questions

1. How does the age of the home (1941) affect its value and potential maintenance?
While older than most on its street, its assessed value remains strong locally, indicating that its condition and updates offset typical age-related concerns. Buyers should still budget for proactive maintenance common to homes of this era, but the renovated basement is a positive sign of ongoing care.

2. The lot is notably large. What are the possibilities or restrictions for using that space?
The elite-sized lot is a major asset. Uses could include extensive landscaping, adding a deck or patio, or potentially future expansions like a shed or workshop, subject to City of Winnipeg zoning bylaws and permitting. It offers a rare degree of privacy and room to grow in this neighborhood.

3. The sale price in 2023 was significantly higher than the current assessed value. Why is that?
Assessed value for property tax purposes and market sale price are determined differently. The 2023 sale price reflects what a buyer was willing to pay in the open market at that time, while the assessed value is an administrative valuation for taxation, often lagging behind rapid market shifts.

4. Is the living space sufficient for a growing family?
At approximately 1,259 sq ft, the living area is average for the area. It provides functional space typical for the home’s style. The renovated basement adds flexible living or storage area, making it workable for a family, though the layout and room sizes of a one-and-a-half storey should be carefully considered against specific needs.

5. How does this property compare to others in Deer Lodge and city-wide?
It holds its strongest advantages within Deer Lodge itself, ranking above average for lot size and assessed value. City-wide, it becomes more average, which highlights Deer Lodge as an area offering relatively good value for these characteristics—a solid, established property in a stable community.