Property Overview: 485 Maryland Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home, built in 1905, presents a classic character property in Winnipeg's Daniel McIntyre neighbourhood. Its key appeal lies in a combination of established charm and practical potential. With 1,218 sqft of living space, the home is moderately sized, but it sits on a notably generous 3,741 sqft lot for the area, offering valuable outdoor space and future possibilities. The house features a detached garage and an unrenovated basement, indicating a property that is livable but ripe for personalization and updates.
The home would suit a specific type of buyer: a first-time purchaser, an investor, or a hands-on owner looking for a "blank canvas" in a central location. Its assessed value is positioned below averages for both the street and neighbourhood, which can signal an accessible entry point into the market. The appeal is grounded in value, lot size, and location rather than move-in-ready finishes. A thoughtful perspective is that this property represents a strategic choice—opting for land and location over square footage or modern fixtures, with the understanding that value will be built through thoughtful updates over time.
Section 2: Frequently Asked Questions
1. What does "below average" assessed value mean for a buyer?
It typically indicates the property is valued lower than many comparable homes in the immediate area. This can mean a more affordable purchase price and potentially lower property taxes, but it may also reflect the need for updates or the unrenovated condition of the home.
2. How significant is the lot size?
At 3,741 sqft, the lot is larger than most in the Daniel McIntyre neighbourhood. This is a standout feature, providing more private outdoor space than typical and offering flexibility for gardening, expansion, or adding a parking pad.
3. What should I know about the unrenovated basement?
This means the basement is in original or functional condition but hasn't been modernized. Buyers should budget for potential moisture-proofing, insulation, or layout improvements if they wish to develop the space, and should have a thorough inspection to understand its current state.
4. The home is over 120 years old. What are the implications?
You can expect classic architectural character but also the maintenance needs of a century home. Systems like plumbing, wiring, and the foundation may require attention or updating. An inspection is crucial to identify any major issues.
5. How does the sale history inform the current value?
The home sold in late 2021 for $14,800. This recent sale provides a concrete benchmark for its market value just over two years ago, which can be a useful reference point when evaluating the current asking price.