Property Overview: 496 Parr Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home on Parr Street is a classic Winnipeg property that represents a straightforward entry point into homeownership. Built in 1946, it is notably newer than many of its immediate neighbours, potentially suggesting fewer concerns associated with very early 20th-century construction. With 1,085 sqft of living space and a 3,006 sqft lot, its size is squarely average for the Inkster-Faraday area, offering practical space without extensive upkeep.

The primary appeal lies in its affordability and stability within its local context. The assessed value is consistent with area norms, and its recent sale history indicates a stable, modest-value market. The presence of a detached garage adds functional value. This home suits first-time buyers seeking a no-frills starter home, or investors looking for a manageable rental property in an established neighbourhood. Its "around average" metrics across the board for the street and area mean it’s a typical representation of the community, not an outlier, which can be appealing for those seeking predictability and value relative to immediate surroundings.

A less obvious perspective is the advantage of its 1946 build date within a neighbourhood of older homes. While the basement is unrenovated, the relatively later construction could mean underlying systems (like wiring or plumbing) have seen updates that even slightly older homes haven't. The property’s city-wide rankings show its assessed value is significantly below the Winnipeg average, highlighting its niche as an affordable option for those focused on budget over square footage or lot size compared to newer suburbs.

Section 2: Frequently Asked Questions

1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloping roof lines, often containing bedrooms. It’s a common, efficient design for its era, offering character but sometimes with less full-height space on the upper level than a full two-storey home.

2. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and is in line with other homes on Parr Street and in Inkster-Faraday. It reflects the modest market values in this established neighbourhood, not the condition of this specific house. It generally translates to lower property taxes compared to the city-wide average.

3. How does the unrenovated basement affect the property?
An unrenovated basement means the space is likely in a rough, utility-state (housing the furnace, laundry, etc.). It presents both a cost-saving opportunity (you’re not paying a premium for a finished space) and future potential. Buyers should budget for any necessary moisture control, insulation, or finishing to make it a livable area.

4. Is the lot size a limitation?
At just over 3,000 sqft, the lot is smaller than the Winnipeg average but standard for the area. It provides adequate outdoor space for a garden or patio with manageable maintenance. It is not suited for significant expansions or additions without careful planning.

5. The home sold in 2021. What can that price history tell me?
The sold price range from late 2021 provides a recent benchmark for its market value under previous conditions. Comparing this to the current assessed value and asking price (if listed) can help gauge market trends. For the exact sale price to inform your offer, you can request it directly from the site.