Property Summary: 499 Toronto Street, Winnipeg
Key Characteristics & Appeal
This is a compact, century-old home (built 1905) in Winnipeg's Daniel McIntyre neighbourhood, offering a straightforward entry point into homeownership. Its key appeal lies in its position as a modest, lower-cost property within an established central area. At 928 sqft of living space with an unfinished basement, it is smaller than most area homes, but its lot size is fairly typical for the immediate street. The recent sale price was significantly below both the city-wide and neighbourhood assessed value averages, indicating a potential value opportunity or a home requiring investment.
It would best suit a pragmatic, hands-on buyer—perhaps a first-time purchaser comfortable with a project, an investor looking for a rental property with fundamentals in place, or someone seeking minimal square footage and property taxes. Its age and condition mean its appeal is functional and financial rather than based on luxury or move-in-ready finishes. A thoughtful perspective is that its smaller size and lower operating costs could align well with a minimalist or environmentally conscious lifestyle, reducing both physical and financial footprint in a central location.
Frequently Asked Questions
1. Why was the sale price so much lower than the assessed values shown?
Sale prices are determined by the market and can be influenced by condition, urgency of sale, and specific buyer demand. A price below assessed averages often reflects a property needing updates or sold 'as-is,' which can represent a value opportunity for a buyer prepared for renovations.
2. What does "One & 3/4 Storey" building type mean?
This is a common Winnipeg architectural style where the second floor has slightly less full-height ceiling space than the main floor, often featuring dormer windows. It makes efficient use of the building's footprint and is characteristic of many early 1900s homes in the city.
3. Is the basement usable?
The listing notes the basement exists but is "not renovated." This typically means it is unfinished, with concrete walls and floors, housing essential utilities. It offers storage and potential for future development, but any renovation would be a project for the new owner.
4. How does the property rank compared to others?
The rankings show this home is generally below average in size and value for the broader city and neighbourhood, but much closer to average when compared only to other homes on Toronto Street itself. This suggests it's a typical property for its specific block, which can be more important for livability than city-wide comparisons.
5. What is the Daniel McIntyre neighbourhood like?
Daniel McIntyre is a mature, central Winnipeg neighbourhood near the Health Sciences Centre and the University of Winnipeg. It features a mix of historic homes, apartments, and local businesses. It offers urban convenience and character, with a demographic blend of long-term residents, students, and professionals.