Property Overview: 488 Simcoe Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1907, sits on a notably generous lot for its Daniel McIntyre neighbourhood. With 1,200 sqft of living space and a renovated basement, it offers practical, well-proportioned living. Its appeal lies in its strong local standing: the property ranks above average on its street for both lot size and assessed value, suggesting it is a solid and well-regarded home within this established community. The detached garage adds functional value.
This home would suit a pragmatic buyer looking for character and space in a central neighbourhood without the premium of newer suburbs. It’s ideal for someone who values a home that has held its own relative to nearby properties and appreciates the potential of a larger lot. The data suggests it’s not a luxury outlier, but a consistently above-average performer on its block—a sensible choice for a long-term holder.
Frequently Asked Questions
How does this home compare to others nearby?
The data shows this home is consistently strong within its immediate area. It has a larger-than-average lot and a higher assessed value compared to other homes on Simcoe Street, indicating it is a premium property on this specific block.
Is the renovated basement a full suite?
The listing notes a renovated basement, but does not specify if it is a legal suite. Buyers should verify its configuration and compliance with local regulations.
What does the assessed value indicate?
The assessed value is a municipal figure for tax purposes, not market value. That this assessment ranks in the top 28% on its street suggests the city views it as a higher-value property compared to its neighbours, which can be a useful benchmark.
The home was built in 1907. What should I consider?
While the structure is over a century old, the renovated basement shows some updates. A thorough inspection is essential to understand the condition of major systems (plumbing, electrical, foundation) common to homes of this era.
Why is the citywide ranking for lot size and value so low?
This reflects the difference between central neighbourhoods and newer suburban areas. Citywide rankings include vast modern subdivisions with much larger lots and newer, higher-valued homes. This property’s strength is clearly within its established urban context, not compared to the entire city.