Property Overview: 619 Beverley Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, early-1900s one-storey home in the Daniel McIntyre neighbourhood. With just over 1,000 square feet of living space and an unrenovated basement, it presents as a straightforward, no-frills property. Its key appeal lies in its position as an accessible entry point into the Winnipeg market, underscored by a very low assessed value that is significantly below city averages. The lot size is generous for the local area, offering potential for outdoor space or future expansion relative to nearby homes.
The property would suit a specific type of buyer: a hands-on first-time purchaser or an investor looking for a foundational asset with minimal initial tax and acquisition costs. It’s not a move-in-ready showpiece but a canvas. Its value is in the lot, the location, and the opportunity for gradual improvement. A thoughtful perspective is that its low official valuation, while attractive for property taxes, may also indicate necessary investments in maintenance or updates for a 121-year-old home. It appeals to those who see potential where others see only age, and who are prepared to build equity through sweat equity over time.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed values are based on market area comparisons. This valuation reflects the home’s age, size, condition, and the local market in Daniel McIntyre. It’s consistently in the bottom tier compared to homes on its street, in the neighbourhood, and citywide.
2. What does "Top 96%" for assessed value mean?
This metric means the property’s assessed value is higher than only 4% of comparable properties in the area; in other words, 96% of homes have a higher assessment. This confirms it is on the very low end of the valuation spectrum.
3. Is the lot size a positive feature?
Yes, particularly in the local context. At just under 3,000 sqft, the land area is above average for both Beverley Street and the Daniel McIntyre neighbourhood, offering more usable outdoor space than many surrounding properties.
4. What should I consider about the home’s age (built 1905)?
While full of character, a home of this age likely has original systems and materials. Prospective buyers should budget for and prioritize inspections (foundation, wiring, plumbing, roof) to understand the condition and any needed updates, as the basement is noted as unrenovated.
5. How does the recent sale price compare?
The home sold in February 2024 for $16,500. This sale price aligns with the theme of a low-value entry point and was significantly below typical city-wide sale prices at the time, as indicated by its "Top 95%" ranking (meaning only 5% of city-wide sales were for a lower price).