Property Overview: 725 Toronto Street, Winnipeg
Key Characteristics & Appeal
This is a substantial, century-old two-and-a-half storey home in the Daniel McIntyre neighbourhood, built in 1907. Its primary appeal lies in its generous scale, offering over 2,200 square feet of living space, which places it in the top tier of homes locally. Compared to others on Toronto Street and in the wider area, it provides significantly more room than average. The lot size is also above average for the immediate street, suggesting a well-proportioned urban property.
The home’s assessed value is notably modest relative to its size, especially when compared to the Winnipeg city-wide average. This combination of a large living area with a lower assessment could present an opportunity for value-conscious buyers willing to take on a property with an unrenovated basement. It last sold in July 2021 for $260,000.
This property would best suit a buyer looking for character and space over modern finishes—perhaps a handy homeowner, an investor, or a family with a vision for gradual updates. Its standout size in a central neighbourhood makes it a canvas for customization, but it requires a realistic approach to its age and condition.
Frequently Asked Questions
1. What does "basement not renovated" typically imply?
It usually indicates original or dated finishes, mechanical systems (like plumbing or electrical), and likely a need for modernization. It’s a key factor for budgeting future improvements.
2. The assessed value seems low for the size. Is that a positive?
It can be. A lower assessment often translates to lower property taxes, which is a lasting financial benefit. It reflects the home’s age and condition rather than its potential market value after improvements.
3. How does the 2021 sale price relate to today’s value?
The $260,000 sale price from three years ago is a historical data point. Current value is influenced by market changes, any improvements made since then, and present condition. A new appraisal or comparative market analysis would be needed for today’s value.
4. The home ranks well for size but lower city-wide for value and land. What does that mean?
It highlights that this is a large home on a standard city lot in a central, established neighbourhood. You are buying interior space and location rather than a sprawling yard. Its value metrics are consistent with older, central communities versus newer suburban areas.
5. Are there comparable homes nearby?
The listed nearby properties on Toronto Street are close in proximity, but the provided "similar assessed value" examples are in different neighbourhoods (like Varsity View and Eric Coy). For true comparables in size and style, focus on similar two-and-a-half storey homes in Daniel McIntyre and the West End.