Property Summary: 562 Simcoe Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home in Winnipeg's Daniel McIntyre neighbourhood, built in 1906. With 1,053 sqft of living space and a 2,504 sqft lot, its size is very typical for the immediate area. The home features a basement, but it is noted as not being renovated, and there is no garage or pool.
The primary appeal lies in its position as a straightforward, no-frills property in a long-established community. Its assessed value is significantly below the citywide average, suggesting a potentially accessible entry point into the Winnipeg market. The home would likely suit a first-time buyer or an investor looking for a character property with a baseline footprint, who is prepared to take on updates over time. Its average-to-compact metrics for the street and neighbourhood indicate it won’t stand out for size or modern assessment, but rather for its simplicity and location. A thoughtful perspective is that a home of this vintage and modest assessment on a standard lot offers a clear "blank canvas" potential without the premium price often attached to more prominently renovated or expanded historic homes in the area.
Section 2: Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for Winnipeg homes of this era. It typically means the second floor has slightly sloped ceilings following the roofline, with full-height walls only in the center of the rooms. It offers more space than a bungalow but often with a cozier feel than a full two-storey.
2. Why is the assessed value so much lower than the recent sale price?
The last recorded sale was in October 2023 for $170,000, while the city assessment is $17,600. Municipal property assessments in Manitoba are based on a mass appraisal system for taxation purposes and are not intended to reflect current market value. The sale price is a far more accurate indicator of its recent market worth.
3. What should I know about an unrenovated basement in a 1906 home?
This suggests the basement likely retains its original state. Buyers should budget for and anticipate foundational inspections, potential moisture management, and updating of older plumbing, electrical, or insulation if the space is to be utilized or modernized.
4. How does this home compare to others on the street?
The data shows it is very average for Simcoe Street in terms of living area and assessed value. It sits on a slightly smaller-than-average lot for the street. Nearby listings show a wide range of sizes and values, indicating a street with diverse housing styles and conditions.
5. Is the lack of a garage a major concern?
On-street parking is common in this neighbourhood. The absence of a garage should be factored into lifestyle needs, particularly during Winnipeg winters, but it is not unusual for homes of this type and age in the area.