Property Summary: 487 Simcoe Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey character home built in 1908, situated in the Daniel McIntyre neighbourhood. With 920 sqft of living space and a recently renovated basement, it offers efficient, manageable living. The lot is a standard city size at just under 2,500 sqft. The home’s standout characteristic is its financial profile: its assessed value is notably above average for Simcoe Street itself, suggesting it may be in better condition or have more updates than many immediate neighbours. This creates an interesting dynamic—it’s a modest, older home in a neighbourhood of similar properties, but one that appears to hold its value well within that specific context.
Its appeal lies in its practicality and location. It suits first-time buyers or downsizers looking for an entry into the market with lower maintenance than a larger property, and who value a classic neighbourhood feel. A thoughtful perspective is that this property represents a "value-holding" option within its peer group, rather than a standout reno or a blank slate. It’s for a buyer who appreciates a home that has been maintained relative to its surroundings and isn’t seeking a major project or maximum square footage.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the likely sale price?
While the assessed value for municipal taxes is $20,700, this is not a market valuation. The last known sale was in 2019 for $180,000. Current sale price would be determined by the market, but the assessment being high for the street can indicate the property is in good relative condition.
2. What does the "renovated basement" include?
The listing notes a renovated basement, but specifics on finish quality, ceiling height, permits, or whether it includes a legal suite are not provided. This would be a key point for buyer due diligence.
3. Is the home suitable for someone wanting a move-in ready property?
Given its age (118 years), some systems like plumbing, electrical, or the foundation may require inspection. The renovated basement is a plus, but the overall readiness depends on the scope and age of other updates throughout the main floor.
4. How does the living space feel compared to newer homes?
At 920 sqft, it's notably smaller than the Winnipeg city average (1,342 sqft). The layout and flow of an early 1900s home will differ from a modern open-concept design, emphasizing efficient use of space and character over sheer size.
5. What is the parking situation?
The listing specifies there is no garage. Parking is likely limited to on-street, which is typical for the area. Buyers should verify any street permit requirements or restrictions.