Property Summary: 506 Parr Street, Winnipeg

Key Characteristics & Appeal

This home is a classic one-and-a-half storey character property built in 1912, offering a compact and efficient living space of 840 sqft on a standard city lot. Its core appeal lies in being a straightforward, lower-cost entry point into the Winnipeg market, particularly within the Inkster-Faraday neighbourhood. For its immediate area and street, the home's living space and assessed value are around the local average, but it presents as a value-conscious option city-wide, where both its size and price point are well below the municipal average.

The property suits first-time buyers, investors, or downsizers seeking functional space without frills. It has a basement (unrenovated) and no garage, emphasizing its practical, no-nonsense nature. A thoughtful perspective is that its age and established neighbourhood location offer a settled, community feel that newer subdivisions often lack, while the lot size provides typical outdoor space for the area. It represents an opportunity to own a home with character where the investment is primarily in the structure and location, rather than in premium upgrades or excess square footage.

Frequently Asked Questions

1. What is the actual recent sold price?
The available public data shows a sale in October 2016 for an estimated range. For precise, historical sold prices, you can request the exact figures via email from the listing service.

2. How does this home compare to others on the street and in the area?
The data indicates this home is quite typical for Parr Street and the broader Inkster-Faraday neighbourhood in terms of living area, assessed value, and land size. Its age (1912) is older than many on the street, which is common for the area's established character.

3. What does the "below average city-wide" ranking mean for value?
This means that compared to all homes across Winnipeg, this property is priced and sized well below the city average. This isn't necessarily negative; it highlights its role as an affordable option in a mature neighbourhood, which can be appealing for specific budgets and lifestyles.

4. Are there any recent comparable sales nearby?
The listing highlights two nearby properties on the same street (508 and 504 Parr Street) as well as other homes in Inkster-Faraday with similar profiles, such as 466 Garlies Street. These provide a direct sense of the local market context.

5. What are the main considerations given the home's age?
Built in 1912, prospective buyers should plan for the maintenance and systems typical of a century-old home. The basement is noted as unrenovated, which is a common project area in homes of this vintage. An inspection would be essential to understand the condition of the foundation, plumbing, wiring, and roof.