Property Overview: 987 Strathcona Street, Winnipeg

Key Characteristics & Appeal

This home on Strathcona Street in the Minto neighbourhood presents a distinct profile defined by its context. Built in 1910, it is a character property that is notably older than most homes on its street, in Minto, and across Winnipeg. Its primary appeal lies in its efficient use of space. With 1,213 sqft of living area, it offers more interior space than many comparable homes in its immediate vicinity, ranking in the top 30% locally. This suggests a well-utilized floor plan within a historic structure.

The lot, at 2,544 sqft, is compact relative to area averages, which may appeal to buyers seeking lower-maintenance outdoor space. The assessed value is consistent with the local area but sits well below the citywide average, indicating a potentially accessible entry point into the Winnipeg market. Recent sales history shows significant price appreciation, with a sale in the $300k-$350k range in 2023, far exceeding a prior sale at $150k-$200k.

This property would suit a practical buyer who values character and space efficiency over a large yard. It’s ideal for a first-time homeowner or an investor looking at the Minto area who understands the trade-offs of an older home. Its above-average interior space in a below-average priced segment makes it a savvy pick for those focused on value per square foot within a mature, established neighbourhood.

Frequently Asked Questions

1. What does the "below average" ranking for year built practically mean for a buyer?
It means this 1910 home is among the older 10-15% of homes in its comparison groups. Buyers should prioritize a thorough inspection focusing on updates to foundational systems like wiring, plumbing, and heating, which may have been modernized over the years.

2. The assessed value seems low compared to the city average. Why is that, and what does it mean for property taxes?
The assessed value is based on the property's value relative to others in its specific market area (street, neighbourhood). It being consistent locally but low city-wide reflects Minto's more affordable positioning within Winnipeg's broader market. Property taxes are calculated using this assessed value and the municipal tax rate, so a lower assessment typically translates to lower tax bills.

3. The living area is above average locally, but the lot size is below average. How might this affect living here?
This combination suggests a home that makes good use of its footprint, potentially with multiple stories. It offers comfortable indoor living space but with a smaller, more manageable yard. This is often appealing for those wanting less lawn maintenance but not wanting to compromise on interior room.

4. There's a huge difference between the 2023 sale price and the earlier one. What should I take from this?
The jump indicates strong appreciation in a short period, likely due to market conditions and possibly significant improvements made by the seller. It underscores the importance of understanding what upgrades were completed between sales and getting a current market evaluation, as past performance doesn't guarantee future value.

5. How reliable are the "exact sold prices" you mention, and why are they not just shown?
Sold price data is sourced from public records, but precise figures can sometimes be incomplete or unclear in public postings. The service to provide the exact price via email is offered to ensure you receive verified, accurate historical data directly, as it is manually confirmed.