Property Overview: 779 Simcoe Street, Winnipeg
Key Characteristics & Appeal
This is a compact, character home built in 1905, offering a practical entry point into Winnipeg’s Daniel McIntyre neighbourhood. Its primary appeal lies in its renovated basement and a recent sale price that positions it as a more accessible option compared to many area homes. The living space (877 sq ft) is modest, ranking below average for the street and area, which suggests a efficient, low-maintenance footprint. It sits on a standard city lot (2,482 sq ft) and includes a detached garage.
The property suits first-time buyers or investors seeking a straightforward, historic home without a major renovation project, as the basement update provides immediate utility. Its below-average assessed value relative to the city indicates a potentially lower property tax burden, a practical financial consideration. A thoughtful perspective is that its age and smaller size, while not for everyone, offer a chance to own a character property in a central location without the premium price often attached to larger, updated historic homes. It represents a "right-sized" option for those prioritizing location and simplicity over square footage.
Frequently Asked Questions
1. How does the recent sale price compare to the assessed value?
The home sold for $200,000 in June 2024, which is significantly higher than its $13,600 assessed value. This is common, as municipal assessments for tax purposes often lag behind current market values.
2. Is the house unusually small for the area?
At 877 sq ft, it is below the average living area for both Simcoe Street and the wider Daniel McIntyre neighbourhood, making it one of the more compact standalone homes available.
3. What does the "renovated basement" likely include?
While specific finishes aren’t listed, a renovated basement in a home of this age typically means it has been modernized for use as living space, potentially including a rec room, laundry, or additional bedroom, adding functional square footage.
4. Are there any concerns with a house built in 1905?
Prospective buyers should prioritize a thorough inspection. While the basement is renovated, a home of this age may have original components (like wiring, plumbing, or the foundation) that require evaluation or future updating.
5. How does the lot size impact potential?
The lot is a standard city size for the core area. It provides adequate outdoor space for a garden or patio but is not large enough for major expansions without variances, maintaining the home’s current scale and neighbourhood character.