Property Overview: 773 Simcoe Street, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1905, offers a classic Winnipeg character in the established Daniel McIntyre neighbourhood. With 1,167 sqft of living space, it sits comfortably around the average size for the area, providing a practical footprint for a small household. The property’s assessed value is notably above average for Simcoe Street itself, suggesting it is viewed favorably within its immediate context, though it’s important to note the home features an unrenovated basement and no garage.
Its primary appeal lies in its location and heritage charm. The lot, while smaller than the citywide average, is typical for the inner-city neighbourhood. The home’s recent sale history shows significant price appreciation over the last eight years, indicating a strong trajectory for the area. This property would suit a value-conscious buyer looking for a character home with solid fundamentals in a central location—someone comfortable with a basement in its original state and possibly planning gradual updates. A thoughtful perspective is that this home represents a piece of local history; its 1905 build date makes it older than most in the city, appealing to those who appreciate the narrative and craftsmanship of early 20th-century construction over modern uniformity.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style in older Winnipeg homes. It typically means the second floor has slightly less than full ceiling height under the sloped roof eaves, often creating cozy bedrooms with unique character, but may limit furniture placement.
2. The assessed value seems low compared to recent sale prices. Why?
Municipal assessed value for tax purposes often lags behind current market values, especially in neighbourhoods experiencing rapid price changes. The assessed value here is a baseline for property taxes, not a direct reflection of market value.
3. What are the implications of an unrenovated basement?
This means the basement is likely in its original state, which could include older finishes, mechanical systems, and potential moisture concerns. It represents both a cost-saving on the purchase price and a future project opportunity or necessary budget item for upgrades or repairs.
4. How does the lack of a garage affect daily life and value?
On-street parking is the norm here. This is typical for the area and priced into the home’s value. Buyers should consider winter parking regulations and their personal storage needs.
5. The home sold recently in 2022 and 2021. Should that be a concern?
The rapid resales could indicate investor activity or a series of quick renovations (flips). It’s essential to have a thorough inspection to understand the condition and quality of any work done during those periods of ownership.