Property Overview

This home at 586 Ingersoll Street in Winnipeg's Minto neighborhood presents a specific value proposition centered on its lot and location. Built in 1927, the 724 sqft house is compact, ranking below average in size for its street, neighborhood, and the wider city. Its assessed value of $230,000 is typical for Minto but sits below the Winnipeg average. The standout feature is the 3,388 sqft land area, which is notably larger than most lots on Ingersoll Street. This creates a clear contrast: a modest, older home on a relatively generous parcel of land.

The appeal lies in this potential. It suits a practical buyer looking for an entry point into homeownership who values outdoor space over interior square footage. It could also attract an investor or renovator who sees the underlying value in the lot itself, with an eye toward future expansion or improvement. The recent 2021 sale in the $250k-$300k range suggests a stable market.

Frequently Asked Questions

1. Is the house too small for a family?
At 724 sqft, the living space is compact. It would likely suit a single person, a couple, or a small family comfortable with efficient living. The larger lot does provide valuable outdoor space for children or gardening that many similarly priced homes with more interior space may not offer.

2. What does the assessed value tell us about the property tax?
The $230,000 assessment is used to calculate your municipal property taxes. It's around the average for the Minto area, so you can expect taxes to be generally in line with similar homes in this specific neighborhood, though likely lower than the citywide average due to the below-average assessment compared to Winnipeg as a whole.

3. The home is almost 100 years old. Should I be concerned?
The age is typical for the area. While charm and solid construction are possible, a thorough inspection is essential to understand the condition of major systems like wiring, plumbing, and the foundation. Budgeting for maintenance and updates is a standard consideration for a home of this vintage.

4. Why is the lot size highlighted as a key feature?
The land area of 3,388 sqft is in the top 18% for Ingersoll Street. In established neighborhoods, land is a fixed asset. This larger lot provides more privacy, yard space, and potential for additions, decks, or landscaping than is commonly available on the street, offering a tangible asset beyond the house itself.

5. How does the 2021 sale price help determine today's value?
The prior sale gives a recent benchmark, showing the property traded between $250,000 and $300,000 just a few years ago. This helps gauge market trends and provides a concrete reference point, though current value will be influenced by market conditions, any updates made since then, and the specific details of that past sale.