244 Ruby Street

Property Overview

244 Ruby Street is a classic two-storey home built in 1909, situated in the established Wolseley neighbourhood. Its primary appeal lies in its generous 3,024 sqft lot, which is larger than most on its street and in Winnipeg overall, offering significant outdoor space and potential. The home itself, with 1,126 sqft of living space, is a manageable size for a character home. Its very low assessed value suggests it may be an entry point into a desirable area, but the noted "not renovated" basement indicates it requires a hands-on owner or presents a renovation opportunity. This property would suit a buyer looking for a character home on a sizable lot who is prepared for updates, or an investor seeking a property with land value in a well-ranked central neighbourhood.

Key Details & FAQs

Key Characteristics & Appeal:
This home’s standout feature is its land. The lot size ranks in the top 12% city-wide, a rare find in mature neighbourhoods and offering room for gardens, expansion, or simply more privacy. While the living area is modest, it ranks well within its immediate context. The home’s age (1909) means it has historic character but also implies a need for careful maintenance and potential updating. Its appeal is grounded in location, lot size, and value, rather than move-in-ready finishes. It would best suit a practical buyer who values outdoor space over a modern interior, a renovator looking for a solid foundation in Wolseley, or someone prioritizing land asset and location in their investment.

Frequently Asked Questions:

1. What does the "not renovated" basement condition likely mean?
It typically indicates an original or dated space that may be unfinished or used solely for utilities and storage. Buyers should budget for potential moisture management, insulation, or foundational updates common in century-old homes.

2. With no garage, what are the parking options?
The property likely relies on on-street parking, which is common in Wolseley. Buyers should verify local permit requirements and assess daily parking convenience on the specific street.

3. The assessed value is very low compared to nearby homes. Why?
Municipal assessments often lag behind market values and are primarily for tax purposes. A low assessment can indicate the home is due for significant updates, but it may also result in relatively lower property taxes, which is a subtle financial advantage.

4. Is the older building age a major concern?
It comes with both charm and considerations. While offering character, a 117-year-old home will have aging components like wiring, plumbing, and windows. A thorough inspection is essential to understand the scope of needed maintenance or upgrades.

5. How does the lot size compare to nearby comparable listings?
The lot is a key advantage. For example, compared to the similar-value reference property at 347 Lipton St (1,240 sqft on a presumably standard lot), 244 Ruby Street offers more than double the land area, which is a significant differentiator for future value or livability.