532 Maryland Street

Property Overview

This 810 sqft one-storey home, built in 1893, presents a distinct opportunity in Winnipeg's Daniel McIntyre neighbourhood. Its key appeal lies in its balance of historic character and practical updates, most notably a renovated basement. The home sits on a 3,506 sqft lot, which is notably larger than many in the immediate area, offering valuable outdoor space. While the living area is compact compared to local averages, this translates to lower maintenance and utility costs. The property last sold in April 2022 for $180,000, and its current assessed value is in line with neighbouring homes on Maryland Street.

This home would suit a first-time buyer, an investor, or someone looking to downsize into a character home without a massive footprint. Its manageable size and updated basement are practical, while the large lot for the area provides room for gardening, entertaining, or future expansion. It’s a property for those who value location and lot size over sheer square footage, and who appreciate the charm and history of a century-old home.

Frequently Asked Questions

Is the house in need of major repairs?
While the listing highlights a renovated basement, the main floor of a home built in 1893 may require updates or maintenance consistent with its age. A thorough inspection is recommended to assess the condition of major systems like wiring, plumbing, and the foundation.

How does the assessed value relate to the likely selling price?
The assessed value for taxation purposes ($21,100) is not a market valuation. The 2022 sale price of $180,000 is a more relevant recent benchmark, but current market conditions will ultimately determine the value.

What are the benefits of such a large lot?
The lot is significantly larger than the neighbourhood average. This not only provides more private outdoor space but also represents a substantial portion of the property's long-term value. It offers potential for additions, a garden, or simply more breathing room than typical inner-city lots.

Is the neighbourhood suitable for families?
Daniel McIntyre is a mature, established community close to downtown amenities. The large lot is a family-friendly feature, but prospective buyers should research local schools, parks, and traffic patterns to ensure it fits their specific needs.

What are the ongoing costs like for a home of this age?
Utility costs for a compact, 810 sqft home can be relatively low. However, insurance premiums may be higher due to the age of the home, and budgeting for ongoing maintenance of an older structure is wise. The renovated basement could indicate improvements to energy efficiency or moisture control.