Property Overview: 520 Beverley Street, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home built in 1904, offering a blend of historic character and practical fundamentals. With 972 sqft of living space and a detached garage, it sits on a standard city lot of approximately 2,500 sqft in the Daniel McIntyre neighbourhood. The home’s assessed value is notably below the Winnipeg average, reflecting its age and modest size. Its appeal lies in its position as an accessible entry point into the market, particularly for a first-time buyer, an investor, or someone seeking a lower-cost project home. The unrenovated basement presents a clear opportunity for future customization or additional living space.
A thoughtful perspective for this property is its statistical positioning. While its living area is below average for the city, it is much more in line with the typical size of homes on its own street and in the Daniel McIntyre area. This suggests it fits the neighbourhood’s fabric well, rather than being an outlier. The buyer it suits is likely value-conscious, sees potential in a solid older structure, and is comfortable with the maintenance and update schedule that comes with a 120-year-old home. It is less suited for those seeking immediate move-in perfection or maximum square footage.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean for this home?
This style, common in Winnipeg’s older neighbourhoods, typically means the second floor has sloped ceilings following the roofline, creating cozy bedrooms with character. It often provides more space than a bungalow but with a different layout than a full two-storey home.
2. How should I interpret the "below average" assessed value rankings?
The assessed value is significantly below the city-wide average, which primarily indicates a smaller, older home in a central neighbourhood compared to newer, larger suburban properties. It can represent a lower property tax base and a pricing advantage for the buyer, but it also signals that major updates have likely not been recently completed.
3. What is the immediate neighbourhood like?
Daniel McIntyre is a mature, established inner-city community. It offers the convenience of proximity to downtown Winnipeg, the University of Winnipeg, and major transit routes. Buyers should expect a mix of well-kept historic homes and some in need of renewal, which is typical for areas with homes of this vintage.
4. Are there any obvious red flags from the provided data?
The data shows the home is older than 99% of properties in Winnipeg and sold very recently (March 2024). This combination suggests a potential quick resale, which buyers may want to inquire about. A standard home inspection is highly recommended to understand the condition of major systems like plumbing, electrical, and the foundation.
5. What are the realistic next steps for a new owner?
Planning for energy efficiency updates (windows, insulation) would be a prudent early consideration for a home from 1904. The unrenovated basement offers flexible space but may require addressing moisture control or structural concerns first. Cosmetic updates will go a long way, but the budget should prioritize essential maintenance inherent to a property of this age.