Property Overview: 708 Victor Street, Winnipeg
Key Characteristics & Appeal
This is a substantial, century-old home (built 1901) in the Daniel McIntyre neighbourhood, offering a rare combination of generous interior space on a compact urban lot. Its primary appeal lies in its impressive 2,082 sqft of living area, which ranks within the top 2-3% of homes on its street and in the local area. This makes it a standout for buyers seeking more square footage than is typical for the vicinity. The home features a two-and-a-half storey layout with a basement that is noted as being unrenovated, and it does not include a garage or pool.
The property suits buyers who value character and space over modern finishes and extensive outdoor land. It’s an ideal project for a handy owner or investor looking to add value through updates, particularly to the basement. The very low assessed value relative to its size suggests significant potential for equity growth through renovations, but also indicates that current systems and finishes likely require attention. It’s less suited for those seeking a move-in-ready home or a large private yard, as the lot size is notably smaller than area averages.
A thoughtful perspective: this home represents a specific urban trade-off. It offers the spacious rooms and architectural presence of a much larger property, but within a tighter land footprint, prioritizing interior volume over exterior space—a practical choice for city living.
Frequently Asked Questions
1. What does "Elite" ranking for Living Area mean?
It means the home's interior square footage is significantly larger than most comparable properties. On Victor Street, for example, it ranks 5th out of 268 homes, with the average being about 1,266 sqft.
2. Why is the Assessed Value so much lower than the city-wide average?
While the assessed value is high for its immediate area, it is average city-wide. This reflects the neighbourhood's market and suggests the home's value is driven more by its exceptional size for the location than by high-end finishes or land value.
3. What are the implications of the unrenovated basement?
This indicates the basement is in original or utility condition. It presents both a project and an opportunity. Buyers should budget for potential updates and factor in a professional inspection to understand the condition of foundational elements, plumbing, and electrical systems.
4. The home is among the oldest on the street. Should I be concerned?
Its age (1901) means charm and potential solid construction, but also necessitates thorough inspections for outdated wiring, plumbing, insulation, and the overall integrity of the structure. Its longevity can be a positive, but proactive maintenance is key.
5. How does the small lot size affect the property?
The land area is smaller than most in the area. This limits expansive outdoor recreation space but can mean less yard maintenance. It also suggests the home's value is intensely focused on the building itself, not the land.