Property Overview: 745 Toronto Street, Winnipeg
Key Characteristics & Appeal
This is a substantial, century-old two-and-a-half storey home in Daniel McIntyre, built in 1908. Its primary strengths are space and land: at 1,862 sqft, the living area is significantly larger than most comparable homes in the immediate area and ranks in the top 5% of the neighbourhood. This is complemented by a generous 4,627 sqft lot, which is elite for the street and neighbourhood, offering rare outdoor potential in an inner-city setting.
The home presents a classic value proposition. Its assessed value is modest relative to the city-wide average, yet it sits around the average for its own desirable street and neighbourhood. This suggests you are paying for the location and the physical assets (house size and lot) rather than premium finishes, as the basement is noted as unrenovated. The recent sale price aligns with this, coming in above the local assessed average.
This property would suit a practical buyer who values space over turn-key condition. It’s ideal for a family, multi-generational household, or an investor/owner looking for a character home with a large footprint and yard. It appeals to those who see potential in a solid, unrenovated basement and who prioritize square footage and lot size within a established community.
Frequently Asked Questions
Q: How does the size of this home compare to others nearby?
A: Very favourably. With 1,862 sqft of living space, it is notably larger than the average home on Toronto Street and in the Daniel McIntyre area, placing it in the top 5% for size locally.
Q: Is the assessed value a good indicator of the market price?
A: The home recently sold for $220,000, which is above the local average assessed value for similar properties. This indicates the market valued its specific combination of large living area and lot size higher than the standard assessment benchmark for the area.
Q: What does the "unrenovated basement" imply?
A: It means the basement is in original or functional condition but has not been modernized or finished to contemporary standards. Buyers should budget for potential updates and consider it usable space that may require work to fully realize its potential.
Q: How does the lot size compare to typical city lots?
A: While the lot is large for the inner-city (ranking in the top 3-4% locally), it is around the city-wide average. This highlights the difference between spacious inner-city lots and typically larger suburban lots.
Q: The home was built in 1908. What should I consider?
A: While the structure has stood for over a century, a pre-purchase inspection is essential to understand the condition of major aged components like the foundation, plumbing, electrical, and roof. The character comes with a responsibility for ongoing maintenance typical of a heritage-era home.