Property Overview: 516 Beverley Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1905, presents a classic character property with practical foundations. Its key appeal lies in its established Daniel McIntyre neighbourhood location and its above-average living space relative to the immediate area. With 1,269 sqft of living area, the home offers more room than many comparable houses on its street and in the neighbourhood. It sits on a standard city lot and includes a detached garage.
The property suits buyers looking for an entry point into a mature, central Winnipeg community, particularly those who value space over a modernized finish. It’s a home with clear history and may appeal to a hands-on buyer comfortable with a basement that is functional but not renovated, seeing it as a blank canvas for future projects. The assessed value is notably modest compared to the city-wide average, which can indicate a different property tax perspective but requires thorough due diligence. This isn't a move-in-ready showcase; its appeal is grounded in its location, its generous floor plan for the area, and its potential for customization over time.
Section 2: Frequently Asked Questions
1. What does the "below average" year built ranking mean for me?
While the home is older than most in the city, it is typical for its historic neighbourhood. This suggests potential for character details but also necessitates careful inspection of core systems like wiring, plumbing, and the foundation.
2. The assessed value seems very low compared to recent sale prices. Why?
Municipal assessed value for taxation purposes often lags behind market sale prices and uses a different valuation method. The 2022 sale price of $180k is a more relevant indicator of current market value, though conditions change. Always base your offer on recent comparable sales and a professional appraisal.
3. Is the living space size a major advantage?
Yes, for this specific area. The home ranks in the top 30% for living area on its own street, meaning it offers more interior space than most direct neighbours. This is a key practical benefit for the location.
4. Who is the ideal buyer for this property?
This home best suits a pragmatic buyer—perhaps a first-time purchaser, an investor, or a downsizer—who prioritizes location and square footage over turn-key condition. It’s for someone who sees value in the existing structure and is prepared to handle updates gradually.
5. What should I investigate first given the property details?
The condition of the basement and the detached garage should be high priorities. Also, research any potential heritage considerations due to the age, and verify the permitted uses for the lot and garage to ensure they match your plans.