Property Overview: 284 Albany Street, Deer Lodge, Winnipeg

Key Characteristics & Buyer Profile

This 840 sqft, one-and-a-half storey home, built in 1918, presents a straightforward opportunity in Winnipeg's Deer Lodge neighbourhood. Its key appeal lies in its position as an affordable entry point into the market. With an assessed value significantly below area and city averages, it stands out for its low property tax burden. The home has a functional, unrenovated basement and sits on a modest, manageable lot.

The property would suit a first-time buyer, an investor, or a hands-on individual comfortable with a home that may require updates. Its smaller size and lower operating costs align well with minimalist living or as a rental property. A less obvious perspective is its potential in a neighbourhood where many homes are larger and newer; this house offers a rare lower-cost option, allowing for equity building in a stable area without a high entry price. Its sale history shows significant price fluctuations, suggesting it may appeal to those looking for a value-play or a project with room for added value over time.

Frequently Asked Questions

1. Is this a fixer-upper?
The listing notes the basement is "not renovated," and given the home's age, buyers should anticipate some updates. It is likely a candidate for cosmetic improvements and potentially more significant systems updates, suited for a buyer with a renovation budget or DIY skills.

2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's smaller size, older age, and likely condition relative to the broader market. This results in substantially lower annual property taxes, which is a key financial advantage for the owner.

3. How does the lot size compare?
At just under 3,000 sqft, the lot is around average for Albany Street but is smaller than most lots in the wider Deer Lodge area. This means less exterior maintenance but also limited space for expansions or large additions.

4. What does the sale history indicate?
The home sold for $110k in 2016 and then for $12.3k in 2019. The drastic drop suggests the 2019 transaction may not have been a standard, arms-length market sale (possibly a title transfer between family members). The 2016 price is a more reliable indicator of its past market value.

5. Are there any immediate red flags?
The primary consideration is the condition of an older, unrenovated home. Buyers should prioritize inspections for foundation, roof, wiring, and plumbing. The lack of a garage is also a standard feature to note for vehicle storage.