Property Overview: 564 Toronto Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1905, presents a classic character property with modern practicality. Its key appeal lies in a balance of historic charm and relative value within its immediate area. At 1,080 sqft of living space, the home is typical for Toronto Street and the Daniel McIntyre neighbourhood, offering comfortable, efficient space without the upkeep of a larger property. A significant feature is the renovated basement, adding functional living area. The detached garage is a notable asset in this inner-city setting.
The data reveals a thoughtful perspective: while the home’s assessed value ($220k) ranks above average for its street and neighbourhood, it sits below the Winnipeg city-wide average. This suggests you are acquiring a property that is well-regarded in its local context without paying the premium often attached to newer suburban homes. The lot size, while smaller than city averages, is standard for the area, emphasizing a low-maintenance yard. This property would suit first-time buyers or downsizers seeking character, a established community feel, and a sensible entry into the market without compromising on core updates like the basement renovation. It’s for those who value location and charm over sheer size.
Frequently Asked Questions
1. How does the assessed value compare to likely selling price?
Assessed value is for municipal tax purposes and is not a direct indicator of market value. However, being ranked above average on its street suggests strong underlying value relative to its immediate peers.
2. What are the implications of a home built in 1905?
It offers classic architectural charm but necessitates a thorough inspection. Key focus areas should include the foundation, wiring, plumbing, and heating systems to understand what updates have been made and what may be needed.
3. Is the lot size a limitation?
At 2,321 sqft, the lot is very typical for Daniel McIntyre. It provides manageable outdoor space for a garden or patio, aligning with a lower-maintenance lifestyle, but may not suit those seeking extensive private yard space.
4. What does the "above average" value ranking for the neighbourhood mean?
It indicates that, according to municipal assessment, this property holds more value than many homes in Daniel McIntyre. This can be due to its condition, renovations, or specific location on Toronto Street.
5. The home last sold in 2020. What should I consider?
Since the 2020 sale, the owners have renovated the basement. It’s important to inquire about the scope of work, permits, and the quality of the renovation, as this adds significant functional value to the property.