491 Simcoe Street

Property Overview: 491 Simcoe Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1912, presents a classic character property in Winnipeg's Daniel McIntyre neighbourhood. With 1,220 sqft of living space and a standard city lot, its size is comfortably average for the local area. The home's primary appeal lies in its value proposition; with an assessed value significantly below city averages, it represents an accessible entry point into the market. The unrenovated basement and lack of a garage point to a property with potential for customization, suited for a buyer comfortable with a project or looking to add value over time. This home would particularly suit first-time buyers, practical investors, or those who appreciate the established streetscapes of older neighbourhoods and are prepared for the maintenance that comes with a century-old structure. A thoughtful perspective is that its older vintage (ranking in the top 14% for age on its street) means it was built in an era of distinct craftsmanship and materials, offering a sense of permanence not always found in newer builds, albeit with associated upkeep.

Section 2: Frequently Asked Questions

1. What does the assessed value indicate?
The assessed value of $140k is notably below the citywide average, placing it in the bottom 25% citywide for similar homes. This typically suggests a lower property tax burden but can also reflect the home's condition, the specific local market, or its unrenovated state compared to broader benchmarks.

2. Is the living space sufficient for a family?
At 1,220 sqft, the living area is slightly above the direct neighbourhood average. This size is generally functional for a small family, but the one-and-three-quarter storey layout will define the room sizes and flow. It's advisable to review the floor plan to see if it meets specific spatial needs.

3. What should I know about a home built in 1912?
Homes of this age possess character but require diligent attention to aging components. Prospective buyers should prioritize inspections for the foundation, roof, plumbing, and electrical systems to understand any necessary updates or repairs that come with a 114-year-old structure.

4. How does the lack of a garage and an unrenovated basement impact usability?
The absence of a garage means on-street parking and a need for alternative storage solutions. The unrenovated basement offers potential for future living or storage space but will require investment to finish, presenting both a cost and an opportunity to tailor the space to your needs.

5. How does this property compare to others on Simcoe Street?
The home is relatively average for its street in terms of living and land area. Its standout metrics are its older build year (one of the older homes on the street) and its below-average assessed value for the area, suggesting it may be priced more accessibly than some direct neighbours.