Property Overview: 623 Victor Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1907, presents a classic character property with modern practicality, thanks to its renovated basement. At 1,244 sqft of living space, it offers a comfortably sized layout that is typical for its historic Daniel McIntyre neighbourhood. The home’s assessed value of $220k positions it as a strong, above-average value within the immediate area, suggesting a well-maintained property relative to its local peers.
Its primary appeal lies in its neighbourhood context. In Daniel McIntyre, the home ranks above average for both living area and value, indicating you get more house for your money here than in many other parts of the city. This creates an opportunity for buyers seeking character and space without a premium price tag. The lot, while modest by suburban standards, is standard for the street and requires less upkeep.
This property would suit a first-time buyer or an investor looking for a solid, move-in-ready entry into a central Winnipeg neighbourhood. It’s also a fit for those who appreciate older home charm but want the foundational comfort of a renovated basement. A less obvious angle is its appeal to a buyer conscious of property taxes; with an assessed value significantly below the citywide average, the tax burden is likely more manageable than for a newer home of similar size.
Frequently Asked Questions
1. How does the home’s value compare to the area?
The $220k assessment is above average for both Victor Street and the broader Daniel McIntyre neighbourhood, suggesting it is a well-regarded property in its local market. Citywide, however, this value is below average, highlighting the neighbourhood’s relative affordability.
2. What does the "renovated basement" likely include?
While specifics aren’t listed, a renovated basement in a home of this era typically means it has been finished into a livable space, possibly with a recreation room, laundry, and storage. It’s important to confirm the quality, permits, and whether it includes a separate entrance.
3. Is the lot size a limitation?
At just under 2,350 sqft, the lot is average for the street but below average for the city. This means smaller outdoor maintenance but also limited potential for expansions like a large addition or garage, which is common in this area.
4. The home is 119 years old. What should I consider?
While the basement has been updated, the core structure is from 1907. A thorough inspection is essential to understand the condition of original elements like the foundation, plumbing, electrical systems, and windows. Character comes with a responsibility for ongoing maintenance.
5. How stable is the value in this location?
The home last sold in February 2022 for $200k. Its current assessed value being higher than that recent sale price can indicate rising market values in the area, but it’s wise to research recent sales on the street to understand current trends.