Property Overview: 487 Toronto Street, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1909, offers a classic character footprint in the Daniel McIntyre neighbourhood. With 1,224 sqft of living space, it is notably above average for its immediate street and in line with the neighbourhood average, providing a comfortable scale for a period home. The lot size is standard for the area but smaller than typical city-wide averages, emphasizing an urban, lower-maintenance yard. Key data points reveal its context: while its assessed value is modest compared to the entire city, it sits solidly in the mid-range for both Toronto Street and Daniel McIntyre, suggesting it is priced appropriately within its established community. The unrenovated basement presents a blank canvas for finishing or utility space.
The appeal lies in its position as a quintessential, early-20th century home in a central location. It suits a specific buyer: someone seeking authentic character over modern perfection, who values a home's history and is prepared for the stewardship that comes with a 117-year-old structure. It’s a practical entry point into homeownership in a mature neighbourhood, ideal for a hands-on buyer looking to add value over time or who prefers to invest in personalized updates rather than paying a premium for recent renovations. The recent sale in June 2024 indicates a active, affordable market for these properties.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for Winnipeg homes of this era. It typically features a full main floor and a second floor where the roofline slopes inward, creating some rooms with full-height walls and others with sloped ceilings or dormer windows, adding character and often cozy spaces.
2. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and is not the market price. Its low value city-wide reflects the home's age, size, and the neighbourhood's modest pricing compared to newer suburban areas. The more relevant figures are its rankings against immediate peers on Toronto Street and in Daniel McIntyre, where it sits around average, confirming it's typical for this community.
3. Is the unrenovated basement a major concern?
Not necessarily, but it is a key consideration. It means the basement space is in its original or utility state, requiring investment to finish. For some, this is an opportunity to create customized space. Buyers should budget for potential updates and have the foundation and moisture protection inspected.
4. How does the lot size impact living here?
At 2,323 sqft, the lot is manageable and typical for the core area. It means less yard maintenance than a larger suburban plot, which can be an advantage, but also limits potential for large additions or extensive outdoor living spaces. It reinforces the home's urban, neighbourhood-oriented setting.
5. The home sold recently in June 2024. What does that suggest?
The quick resale could indicate several things: it may be an investor-owned property, a estate sale, or a homeowner whose circumstances changed. It doesn't inherently reflect on the property's condition. It does show that there is steady demand for well-priced, character homes in this location.