Property Overview: 1-517 Maryland Street, Winnipeg
Key Characteristics & Appeal
This two-and-a-half storey home, built in 1905, offers substantial space and a solid foundation in the Daniel McIntyre neighbourhood. Its primary appeal lies in its generous proportions, both in living area (2,125 sq ft) and land (3,699 sq ft), which rank well above average for the immediate area. The home presents a clear value proposition for its assessed value of $250k within the local context, positioning it as a larger, character-filled property at a point where significant equity gains may have already been realized by previous owners.
The property would best suit a practical buyer who values space over turn-key condition. It’s ideal for someone with renovation plans or the willingness to update over time, given the noted unrenovated basement. This isn't a luxury purchase, but a strategic one—offering room to grow in a central community for those comfortable with a project. A thoughtful perspective is that its older vintage (121 years) is actually typical for Maryland Street, meaning you're buying into a streetscape with established character, not an outlier. Its city-wide rankings, which are lower for metrics like assessed value, highlight that this property's true worth is deeply anchored in its specific, desirable locale rather than broad market trends.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
Not directly. The $250k assessment is for taxation purposes. Recent sale history (last sold for $288.7k in 2021) and current market conditions will be stronger price determinants.
2. What does "basement, not renovated" typically imply?
It suggests the lower level is functional but may require modernization. Buyers should budget for potential updates to flooring, lighting, and finishes, and invest in a thorough inspection to check the foundation and mechanical systems.
3. How does the lack of a garage affect daily living and value?
On-street parking is the norm here. For some buyers, this is a trade-off for a larger home and lot at this price point. The generous lot size could potentially allow for a future parking pad or shed, subject to city bylaws.
4. The home is older. What should I be most concerned about?
While the age is typical, key focus areas for an inspection should include the roof, original wiring or plumbing updates, window efficiency, and the overall envelope for insulation and drafts common in houses of this era.
5. The rankings show it's "below average" city-wide for value and land size. Is that a red flag?
No, this is primarily a function of comparing a central, established neighbourhood to newer suburban areas with larger, more expensive lots. Within Daniel McIntyre and on Maryland Street itself, the property holds a strong, above-average position for its key attributes.