Property Overview
This 1,216 sqft one-and-three-quarter storey home on Simcoe Street, built in 1905, presents a classic Winnipeg character property with a renovated basement. Its key appeal lies in its established Daniel McIntyre neighbourhood location and its manageable scale. The home sits on a 2,457 sqft lot, which is relatively compact for the city but typical for the area, suggesting lower maintenance. With an assessed value significantly below the citywide average, it represents an accessible entry point into the market.
Key Characteristics & Appeal
This home is defined by its practicality and location. Its living space is squarely average for the immediate street and neighbourhood, offering a comfortable footprint without being sprawling. The renovated basement adds functional living area. Its assessed value is notably low, which can translate to very manageable property taxes—a significant, often overlooked, long-term savings.
The appeal is primarily for value-conscious buyers seeking character in an inner-city neighbourhood. It would suit a first-time buyer looking for a solid starter home without a massive yard to upkeep, or an investor seeking a property with a favourable assessment. The home’s age (built 1905) means potential for historic charm but also suggests buyers should be prepared for the maintenance and update schedule typical of a century-old house. It’s a property for those who prioritize location and fiscal efficiency over modern size benchmarks or large outdoor space.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
Assessed value is not market value. This assessment reflects a valuation for tax purposes, often influenced by the home's age, specific location, and the lower average values within the Daniel McIntyre neighbourhood compared to newer suburban areas.
2. What does "one-and-three-quarter storey" mean?
This is a common architectural style for homes of this era. It typically means the second floor has full-height ceilings at the center, with sloped ceilings under the roofline on the sides, often creating cozy bedrooms with character.
3. Is the small lot size a disadvantage?
It depends on your priorities. The lot is below average for the city but around average for the neighbourhood. It means less yard work and lower exterior maintenance costs, which can be a advantage for busy owners or investors.
4. The home last sold in 2016. What should I consider?
A sale eight years ago indicates a stable ownership period. It’s a positive sign, but you should investigate what updates or maintenance have been completed since then, as systems like roofing or heating may be due for attention.
5. How does the renovated basement affect the property?
A renovated basement adds valuable finished living space, such as for a family room, office, or additional bedroom. Ensure renovations were permitted and inspect for any moisture issues common in older foundations.