Property Overview: 744 Setter Street, Heritage Park, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This one-storey home at 744 Setter Street is a compact, efficiently laid-out property in Winnipeg's Heritage Park neighbourhood. Built in 1965, it features 1,012 square feet of living space, a renovated basement, and an attached garage, sitting on a 5,197 sqft lot. The home’s assessed value is notably modest compared to the city average, positioning it as an accessible entry point into the market.

Its primary appeal lies in its practicality and value. The renovated basement adds functional living space, a significant advantage in a smaller home. While the living area is below average for both the street and neighbourhood, this translates to lower maintenance and utility costs—a boon for downsizers or first-time buyers. The lot size, though smaller than others on the street, is near the citywide average, offering manageable outdoor space. A thoughtful perspective is that this property represents a "value-consistent" choice; its metrics (size, value, year built) are consistently mid-to-lower range for the immediate area but align more closely with broader city averages, suggesting it’s a stable, no-frills option within its community.

This home would best suit a first-time homebuyer seeking an affordable, move-in-ready starter home with modernized basics, or a downsizer looking for single-level living without a large yard to maintain. It’s for those who prioritize financial accessibility and functional space over square footage or prestige within the neighbourhood.

Frequently Asked Questions

1. Is this a small house?
Yes. At 1,012 sqft, the living area is below the average for Heritage Park and significantly smaller than other homes on Setter Street. This makes it a compact, efficient layout.

2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or rooms. A viewing or inquiry with the listing agent is necessary to understand the full scope and quality of the renovation.

3. How does the assessed value affect the potential price?
The assessed value is $35,600, which is below average for the street but around the middle range for the wider city. It typically serves as a base for property tax calculation, not a direct sale price. The last known sale was in 2021 for an estimated $39.5k-$42.5k.

4. Is the lot size a disadvantage?
The lot is smaller than most on Setter Street but is close to the average lot size across Winnipeg. It provides manageable outdoor space without the upkeep of a larger yard, which can be an advantage for some buyers.

5. What is the neighbourhood like?
Heritage Park is an established neighbourhood. The home’s age (1965) is older than the area average, suggesting it is among the original builds in that part of the community. The close proximity of similar-valued homes in other neighbourhoods, like Elmhurst, indicates it sits in a value bracket found in several mature areas of the city.