Property Overview: 318 Albany Street, Deer Lodge, Winnipeg

Section 1: Key Characteristics & Appeal

This bi-level home at 318 Albany Street is a modern, low-maintenance property in Winnipeg's Deer Lodge neighbourhood. Built in 2018, it is a notably newer construction compared to most homes in the area, which typically date from the mid-20th century. Its key features include 1,022 sqft of living space and a renovated basement.

The primary appeal lies in its move-in readiness and modern building systems, offering freedom from the major repairs or updates often needed in older homes. The property presents a compelling value proposition, as its assessed value ranks well above average for both the street and the neighbourhood. While the lot size is more compact than many in the city, this translates to less yard upkeep.

This home would best suit first-time buyers, downsizers, or investors seeking a modern, efficient property with minimal immediate upkeep. It’s ideal for those who prioritize a newer build and financial efficiency over a large yard or expansive square footage. A thoughtful perspective is that this property offers a way to live in an established neighbourhood like Deer Lodge while enjoying the benefits of a contemporary home, bridging the gap between community character and modern convenience.

Section 2: Frequently Asked Questions

1. What does the assessed value ranking mean for property taxes?
While the assessed value is above average for the immediate area, property taxes are calculated using a city-wide mill rate. Its ranking suggests it is a higher-value home on its street, but taxes should be compared directly with recent bills for similar-sized newer homes in Winnipeg.

2. Is the living space sufficient for a family?
At 1,022 sqft, the living area is around average for Deer Lodge but below the city-wide average. The bi-level layout and renovated basement can provide good separation of space. It may be best suited for smaller families, couples, or individuals.

3. What are the implications of the smaller lot size?
The land area is compact, especially compared to the city average. This means lower maintenance, but also limited space for large gardens, extensive play structures, or future expansions like a large deck or garage. It emphasizes efficient use of indoor and outdoor space.

4. How does the 2018 build year affect insurance and utilities?
Newer construction often means updated electrical, plumbing, and insulation, which can lead to lower utility costs and potentially more favourable home insurance premiums due to reduced risk of system failures.

5. What is the context of the last sale price from 2019?
The home sold for $31,500 in March 2019. Given it was newly built, this was likely a significantly lower price point prior to broader market increases. This historical price is not reflective of current market value but highlights the property's relative newness.