Property Overview: 535 Toronto Street, Winnipeg
Key Characteristics & Appeal
This is a compact, early-1900s one-and-three-quarter storey home in the Daniel McIntyre neighbourhood. With 928 square feet of living space and an unrenovated basement, it presents a straightforward, no-frills opportunity. Its key appeal lies in its position as an accessible entry point into the Winnipeg market. The home sits on a modest, average-sized lot for its street and the assessed value is notably below both the neighbourhood and city-wide averages.
This property would suit a first-time buyer comfortable with a home that has original character and may require updates over time, or an investor looking for a manageable rental property. A less obvious perspective is its potential for someone seeking a lower-cost base in a central location, freeing up capital for renovations tailored to personal taste rather than paying for prior upgrades. Its older age and smaller size also suggest proportionally lower utility costs and less maintenance area compared to larger, modern homes.
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 slightly less full-height ceiling space than a true two-storey home, often with sloped ceilings or dormer windows, but still provides substantial upstairs living or bedroom areas.
2. Is the basement finished or usable for living space?
The listing specifies the basement is "not renovated." It is present and likely provides essential mechanical space and storage, but it is not a finished living area and may require work to be fully utilized.
3. How does the assessed value relate to the likely sale price?
The assessed value for taxation purposes is currently listed at $14,700, which is significantly below area averages. It's important to note that sale prices are determined by the market. The last recorded sale was in 2017 for $12,500. A current market evaluation or comparative market analysis (CMA) from a real estate agent is essential to determine today's expected selling price.
4. What is the neighbourhood like?
Daniel McIntyre is a mature, central Winnipeg neighbourhood. It offers a mix of residential housing, local businesses, and amenities, with good access to downtown. Prospective buyers should explore the specific block and surrounding streets to get a feel for the area.
5. Are there any major concerns with a home built in 1905?
Homes of this age possess character but require diligent inspection. Key focuses should be the foundation, roof, wiring, plumbing, and heating systems to understand their condition and any needed updates. The unrenovated state means many original systems and materials may still be in place.