Property Overview: 641 Toronto Street, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home in Winnipeg's Daniel McIntyre neighbourhood, built in 1905. With 1,076 sqft of living space and a detached garage, it sits on a standard city lot of 2,321 sqft. The data positions this home as consistently "around average" for its immediate street and neighbourhood in terms of size, lot, and age, offering a typical footprint for the area. Its primary financial appeal is its notably low assessed value, which falls below the average for comparable homes on its street, in the neighbourhood, and citywide. This presents a clear value proposition for entry into the market.
The home would suit a first-time buyer or practical investor looking for a character home in a central, established community without a premium price tag. Its appeal lies in its affordability and location, offering a chance to own a standalone house with classic architecture. A thoughtful perspective is that its "average" metrics for the area mean it’s a genuine representation of the neighbourhood's housing stock, not an outlier, which can provide stability. However, the age of the home suggests that its condition and any required updates will be the true determinants of its value and appeal.
Frequently Asked Questions
1. What does the assessed value tell me about the property tax?
The assessed value is significantly lower than both neighbourhood and city averages. This typically suggests relatively lower property taxes, which is a key ongoing cost benefit. Always confirm the exact tax amount with municipal records.
2. Given the home's age, what should I prioritize during an inspection?
A 1905 home requires a thorough inspection focusing on the foundation, roof, wiring, plumbing, and insulation. The mechanical systems and envelope are more critical initial concerns than cosmetic updates.
3. How does the living space compare to modern needs?
At 1,076 sqft, the living area is modest by today's standards. The one-and-three-quarter storey layout often means unique room shapes and potentially steeper stairs. Consider if the flow and room sizes suit your lifestyle.
4. The data shows recent nearby sales on Agnes Street, not Toronto Street. Why?
This is common. Comparable sales ("comps") are based on similar homes in the broader neighbourhood, not just the same block. It indicates the local market activity for homes of this type and size.
5. The home last sold in April 2022. What does that mean?
A sale two years ago indicates a relatively short ownership period. It’s worthwhile to inquire about the seller’s reason for moving to understand if it’s related to the property itself, the neighbourhood, or simply a change in personal circumstances.