Property Overview: 536 Beverley Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1905 on a standard city lot in the Daniel McIntyre neighbourhood. Its key characteristic is its exceptionally low municipal assessed value, which is among the lowest percentile both locally and city-wide. The living space of 952 sq. ft. is compact and below area averages, and the basement is noted as unrenovated. There is no garage or pool.
The primary appeal lies in its potential as an entry point into the Winnipeg market, likely appealing to buyers with a limited purchase budget or those seeking a minimal property tax base. It suits hands-on buyers looking for a straightforward project home without the premium for move-in-ready condition, or investors considering land value and redevelopment potential in the long term. A less obvious perspective is its appeal to those seeking simplicity and lower fixed costs, where the dated condition is not a drawback but an opportunity to customize slowly without overcapitalizing on a high initial purchase price.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
The home sold for $80,000 in 2016. The current assessed value is a municipal valuation for tax purposes, which can differ significantly from market value, especially for older, unrenovated homes where the land may constitute a large portion of the worth.
2. What does "basement, not renovated" typically imply?
This usually indicates a functional but unfinished basement with original or utilitarian conditions. Buyers should budget for potential updates to flooring, walls, and mechanical systems, and inspect for moisture issues common in century-old foundations.
3. Who is this neighbourhood best suited for?
Daniel McIntyre is a central, established community. It often appeals to students, young professionals, and first-time homebuyers due to its proximity to downtown, the University of Winnipeg, and amenities, valuing location over lot size.
4. Given the age, what major systems might need attention?
A home from 1905 likely has original or older plumbing, wiring, and heating systems. A thorough inspection is crucial to understand the condition and immediate needs of these fundamental components, which can be a significant cost factor.
5. Is the land size a redevelopment opportunity?
The lot is a standard city size. While the current home is small, the lot's value may be its future potential. Buyers should consult local zoning bylaws to understand if the property could be suited for a future rebuild, addition, or multi-family development, which is a key long-term consideration for some investors.