Property Overview & Appeal
This two-storey home, built in 1906, presents a classic character property on a notably spacious lot for its St. Matthews neighbourhood. Its key appeal lies in a combination of established location and solid fundamentals. The 2,345 sqft land area is larger than 83% of lots on Toronto Street, offering valuable outdoor space and potential. With a living area of 1,220 sqft and an unrenovated basement, it is a straightforward canvas. The home recently sold in late 2024, and its assessed value is in the top 12% citywide, suggesting a stable, in-demand location.
This property would suit a buyer comfortable with a home of vintage charm that may require updates. It’s ideal for someone who values a larger-than-average inner-city lot over a modern, turn-key interior. The appeal is practical: it’s a grounded investment in a mature neighbourhood with metrics that indicate strong underlying value relative to Winnipeg as a whole, rather than extravagant finishes.
Frequently Asked Questions
1. What does the "unrenovated basement" imply?
It typically means the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates and consider it valuable extra space that awaits their personal touch.
2. How significant is the lot size?
Very. Ranking in the top 17% on its own street for land area is a standout feature in an older neighbourhood. It offers more privacy, gardening space, and future expansion potential than many nearby properties.
3. The home is 120 years old. What should I be concerned about?
While the structure has proven its durability, a pre-purchase inspection is essential to understand the condition of major aged components like the foundation, original plumbing, wiring, and the roof.
4. The assessed value is much lower than typical sale prices in Winnipeg. Why?
Municipal assessed value for taxation is not a market price. This home’s assessment ranks highly citywide (top 12%), which actually indicates the property is considered more valuable than the vast majority of Winnipeg lots, despite the lower absolute number.
5. What is the neighbourhood like?
St. Matthews is a central, established neighbourhood with a mix of long-term residents and younger buyers. The high rankings for lot size and value within the area suggest it's a consistent and desirable part of the community.