Property Overview: 802 Victor Street, Winnipeg
Key Characteristics & Appeal
This 1,482 sqft two-and-a-half storey home, built in 1904, presents a classic character property with distinct practical advantages. Its primary appeal lies in a rare combination for the Daniel McIntyre neighbourhood: a generously sized home on an exceptionally large lot. At 3,513 sqft, the land area ranks in the top 4% on its street, offering significant outdoor space and potential that is uncommon for the area.
The home itself offers above-average living space compared to both the immediate street and the wider neighbourhood, suggesting a comfortable layout. It features a detached garage and a basement (not renovated), catering to those needing storage or workshop space. The assessed value is notably below average across all comparisons, which can indicate a more accessible entry point into the market, especially for a home of this size and lot dimension.
This property would suit a value-conscious buyer or investor who prioritizes land size and space over modern finishes. It’s ideal for someone comfortable with the upkeep of a century-old home and who sees potential in the existing structure and the sizable yard. The appeal is less about immediate luxury and more about foundational assets—space and location—with the understanding that updates may be part of the ownership journey.
Frequently Asked Questions
1. What does the below-average assessed value indicate?
It typically reflects the municipality's valuation for tax purposes, often based on historical sale data and property characteristics. In this case, it suggests the home may be priced below many comparable properties in the city, potentially offering a lower property tax base and an opportunity for value increase through updates.
2. Are there concerns with a home built in 1904?
While full of character, buyers should budget for and prioritize a thorough inspection. Key focus areas for a home of this age typically include the foundation, roof, electrical wiring, plumbing, and insulation. The unrenovated basement also merits close examination.
3. How significant is the lot size?
Very. A lot of over 3,500 sqft in this neighbourhood is a standout feature. It provides ample room for gardening, recreation, parking, or future expansion (subject to zoning bylaws and permits), which is a major asset not easily replicated.
4. The home last sold in March 2022 for $130k. What does that mean?
This recent sale price, which ranks in the bottom 10% for the area historically, provides important context. It suggests the property may have been purchased as a project or investment. Understanding what work has been done since that sale will be crucial.
5. What is the neighbourhood like?
Daniel McIntyre is a central, established Winnipeg neighbourhood. It offers historic homes, cultural diversity, and proximity to downtown, the University of Winnipeg, and amenities. Buyers should explore the specific block and surrounding streets to gauge the fit for their lifestyle.