Property Overview: 503 Toronto Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home in Winnipeg's Daniel McIntyre neighbourhood, built in 1905. With 928 square feet of living space and a standard city lot, it presents a straightforward, compact footprint. Its key appeal lies in its position as an accessible entry point into the market. The assessed value is notably below both neighbourhood and city averages, suggesting a potentially lower barrier to entry compared to many other properties.
The home would suit first-time buyers, investors, or downsizers seeking a pragmatic project. Its appeal is grounded in fundamentals: a central location, a manageable size for renovations, and a price point that allows room for investment in updates. A thoughtful perspective is that while the living space is modest, the unrenovated basement presents a clear, if not immediate, opportunity to add functional space. The home’s age and condition mean it is best suited for a buyer comfortable with the ongoing maintenance of a character home or one viewing it as a long-term value-adding project.
Section 2: Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style in older Winnipeg homes. It typically means the second floor has sloped ceilings following the roofline, with full-height walls only in the center of the rooms. It offers more space than a bungalow but often with a cozier feel than a full two-storey.
2. How does the assessed value relate to the likely sale price?
The assessed value ($15,800) is for municipal tax purposes and is typically much lower than market value. The last recorded sale was in 2020 for $15,400. The current market price would be determined by recent sales of comparable homes, condition, and demand.
3. What are the implications of an "unrenovated" basement?
This indicates the basement is in original or functional condition, not modernized. It’s usable space but may have older finishes, mechanical systems, and likely lower ceilings. It represents both a cost-saving (reflected in the price) and a future opportunity for renovation.
4. Is the living area of 928 sqft sufficient for a small family?
It is compact by modern standards. The layout will be a key factor. For a small family, it could work, but it may require creative use of space and would benefit from the potential to finish or better utilize the basement area for additional living or storage.
5. How does this property rank compared to others?
The data shows it is consistently below city-wide averages for size, value, and lot size. However, within its immediate area on Toronto Street, it is much more "average" or typical. This highlights that it is a representative home for its specific, established neighbourhood, not a suburban-style property.