Property Summary: 178 Austin Street N, North Point Douglas, Winnipeg

Section 1: Key Characteristics & Appeal

This home presents a distinct value proposition centered on its exceptionally large lot. With over 10,600 square feet of land, the property ranks in the top 5% citywide for lot size, offering rare potential for expansion, gardening, or outdoor space in an inner-city neighbourhood. The house itself, built in 1902, is a modest 1,288 sqft character home with an assessed value significantly below the Winnipeg average, indicating a lower property tax burden.

Its primary appeal lies in this land-to-value ratio. It suits a specific buyer: someone seeking an affordable entry into homeownership with a vision for the future. This could be a hands-on buyer looking for a renovation project on a canvas with ample yard space, an investor seeing long-term potential in a large parcel, or a household prioritizing private outdoor space over a modern or large interior. It’s a property where the true value may be unlocked over time through improvements or simply by holding a sizable lot in a central location.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Assessed value is based on market value for taxation purposes. This assessment reflects the home’s age, modest size, and the general price level in the North Point Douglas area, which is below the citywide average.

2. What does the sold price range (CA$100k–150k) from February 2024 indicate?
It confirms the property transacted recently at a price point consistent with its assessed value and neighbourhood averages. This suggests a stable, affordable market segment.

3. Are there concerns with a house built in 1902?
Absolutely. Prospective buyers must budget for and investigate the condition of major aging systems like wiring, plumbing, and the foundation. A thorough pre-purchase inspection is essential, but the age also contributes to the home’s character and affordability.

4. How significant is the lot size, really?
It’s the standout feature. At nearly a quarter-acre, it is more than double the size of typical lots in the area and city. This isn’t just a backyard; it’s a substantial piece of land that offers flexibility rarely found in central neighbourhoods.

5. Where can I get verified sale history and exact figures?
The site notes that due to industry rules, exact MLS sold prices are not displayed publicly. You can request the exact sold price history directly from the website via email, and they will provide a manual lookup.