Property Overview: 464 Lyle Street, Deer Lodge, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in Deer Lodge presents a practical and straightforward opportunity. Its key characteristic is a well-proportioned, larger-than-average lot for the immediate street, offering valuable outdoor space. The living area is modest at 850 sqft, placing it below average for the neighborhood, suggesting a cozy, efficient layout. A recently renovated basement adds functional living space and modern appeal. The home is older, built in 1952, but is newer than many on its street. With a detached garage and an assessed value that aligns with local norms, it represents a classic Winnipeg post-war bungalow.

Its primary appeal lies in its location and lot size within a mature, established community. It suits first-time buyers seeking an entry point into a stable neighborhood, downsizers looking for a manageable single-level home with a low-maintenance yard, or value-focused investors. A thoughtful perspective is that while the house itself is smaller, the generous lot provides a rare commodity—space for gardening, play, or future expansion—which can be a wiser long-term investment than a larger home on a tiny plot. Its "around average" assessment for the area suggests it is priced without a premium, offering a grounded, realistic purchase.

Section 2: Frequently Asked Questions

1. Is the house too small?
At 850 sqft, the above-ground living space is compact. However, the renovated basement significantly expands the usable area, making the overall footprint more practical for a small household or couple.

2. What does the "above average" lot ranking mean for this street?
It means the property's land area (4,796 sqft) is larger than most of its direct neighbors. This is a notable advantage on this street, providing more private outdoor space than is typical for the immediate area.

3. The home was built in 1952. What should I be concerned about?
While the core structure is older, the renovated basement indicates some updates. A standard inspection is crucial to assess the condition of major aging components like the roof, plumbing, electrical systems, and foundation, which are typical for a home of this era.

4. How does the assessed value relate to the likely selling price?
The assessed value of $300k is for municipal tax purposes. Recent sale history shows the home sold for $265k in 2019 and $243k in 2016. The selling price will be determined by the current market, but this history provides important context.

5. Who would this property not suit?
It may not suit buyers requiring substantial above-ground living space, a modern open-concept layout, or those unwilling to manage the maintenance and potential update schedule of a 74-year-old home. It’s best for those who value lot size and location over a large interior.