499 Maryland Street

Property Overview: 499 Maryland Street

Key Characteristics & Appeal

This is a compact, one-storey character home built in 1905, situated in Winnipeg's Daniel McIntyre neighbourhood. Its primary appeal lies in its balance of historic charm and a practical, renovated basement. At 680 sqft, the living space is notably modest—significantly smaller than most area homes—which positions it as an efficient, low-maintenance property. However, it sits on a generously sized lot for the immediate area (3,713 sqft), offering valuable outdoor space and potential that is rare for the inner city.

The home’s assessed value is relatively low compared to the city-wide average, suggesting an accessible entry point into the market. A key, less obvious perspective is that this property represents a "land-value proposition" in an established neighbourhood; the appeal is as much in the lot as in the existing structure. It would suit a first-time buyer comfortable with a smaller footprint, an investor looking for a character rental, or someone seeking a manageable project home where future additions or landscaping could capitalize on the larger-than-average lot size.

Frequently Asked Questions

1. Is the house too small for practical living?
At 680 sqft, the main floor living area is compact. Its suitability depends entirely on lifestyle. It would work well for a single person, a couple, or as a strategic purchase where the renovated basement adds functional space.

2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, ceiling height, legal egress, and whether it includes a separate suite or additional living space.

3. Why is the assessed value so much lower than the recent sale price?
The home sold for $170k in 2024, while its assessed value is $16.4k. This large discrepancy is common; municipal property assessments in Manitoba are not intended to reflect market value and are often significantly lower. The sale price is the true indicator of its market value.

4. Does the large lot present any specific opportunities or challenges?
The lot size is a standout feature for the street and neighbourhood. It offers potential for gardening, expansion, or adding a detached structure (subject to zoning bylaws). It may also mean higher maintenance or snow-clearing responsibilities compared to neighbouring properties.

5. What should I know about a house built in 1905?
While full of character, a home of this age requires careful attention. Prospective buyers should prioritize inspections for foundational integrity, updates to electrical and plumbing systems, insulation, and the overall condition of the original structure to understand any needed investments.