Property Overview: 691 Beverley Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1910, presents a classic character home opportunity in the Daniel McIntyre neighbourhood. With 1,127 sqft of living space, its size is typical for the area. The property stands out for its larger-than-average lot (over 3,000 sqft) for the immediate street and neighbourhood, offering valuable outdoor space and potential. It features a basement, but one that has not been renovated.
The primary appeal lies in its position as a value-conscious entry point into the Winnipeg market. Its assessed value is notably low compared to city-wide averages, which often translates to lower property taxes—a significant, ongoing cost savings for an owner. This is a home suited for a practical buyer: a first-time homeowner comfortable with a project, an investor looking for a rental property with a strong lot size, or someone seeking a character home with the space to gradually renovate and customize without the premium price of a fully updated property. Its charm is in its potential and its practical financial profile, rather than in move-in-ready finishes.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed value is not market value. This lower assessment is based on the property’s specific attributes and is common for older, unrenovated homes in central neighbourhoods. It typically results in proportionally lower annual property taxes.
2. What does "one-and-a-half storey" mean for this home?
This style, common for homes of this era, usually features a main floor with principal rooms and a second floor under sloped rooflines, creating cozy bedrooms with potentially unique layouts. It emphasizes character over modern, open sightlines.
3. The lot size is noted as "above average" for the street. What are the advantages?
A larger lot (3,035 sqft) provides more private outdoor space, better potential for landscaping or gardening, and increased flexibility for future additions like a garage, deck, or shed, subject to local zoning.
4. The home sold recently in May 2023. What should I consider?
A sale just over a year ago provides a clear, recent market price benchmark ($120k). As a buyer, you’ll want to understand what, if any, changes have been made since that sale and investigate the seller’s reason for listing again so soon.
5. What are the implications of an unrenovated basement?
An unrenovated basement offers a blank canvas but requires careful inspection for moisture, foundation integrity, and the state of essential systems (like wiring and plumbing). Budgeting for professional assessment and potential upgrades should be part of your planning.