Property Overview: 654 Agnes Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1903, presenting a straightforward opportunity in Winnipeg's Daniel McIntyre neighbourhood. Its key characteristic is the balance between a very small, unrenovated house (720 sq ft) and a relatively generous lot (over 3,800 sq ft). The living space is notably compact, ranking in the bottom 3-5% for size compared to nearby and citywide homes. The assessed value is correspondingly low, reflecting the home's basic condition and scale.
The primary appeal lies in its land value and potential. The lot size is well above average for both the immediate street and the Daniel McIntyre area, offering valuable outdoor space or future expansion possibilities in an established inner-city neighbourhood. This property would suit a specific type of buyer: an investor or handy first-time buyer looking for an affordable entry point, where the value is in the land and the structure is a candidate for a significant renovation or eventual rebuild. It’s not a move-in-ready home, but a foundational asset for someone with a vision and a plan.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the home's very small size, its age, and the fact it has a basement but is noted as "not renovated." The value is largely tied to the land and the existing structure's basic utility, not premium finishes or modern living space.
2. What does "not renovated" for the basement imply?
This typically means the basement is in original or utilitarian condition, likely with low ceilings, basic concrete floors, and older mechanical systems. It is functional space but would require significant work to be finished as modern living area.
3. Is the large lot a guarantee I can build an addition or new home?
While the lot size is a major advantage, any expansion or rebuild would require careful review of the City of Winnipeg's zoning bylaws, heritage considerations (given the home's age and area), and obtaining the necessary permits. The potential is there, but it's not automatic.
4. The home is over 120 years old. What should I be most concerned about?
Prospective buyers should budget for and investigate the condition of fundamental systems: the foundation, roof, plumbing, and wiring. Homes of this age often require substantial updates to meet modern standards and efficiency.
5. How stable is the property's value given its unique profile?
Its value is less influenced by housing market trends for standard family homes and more by the underlying land value in Daniel McIntyre and the costs/possibilities for development. It may appreciate differently than a typical, updated house.