Property Overview
352 Maryland Street is a two-storey home built in 1905, situated on a large lot in Winnipeg's St. Matthews neighbourhood. Its primary appeal lies in its established character, generous land size, and a location that offers a quiet residential feel while remaining close to the city's core. The home presents a classic opportunity: it retains its original charm and has a functional, unrenovated basement, making it a straightforward canvas for personalization.
This property would suit a specific buyer: someone looking for a character home with solid fundamentals—excellent lot size, a good amount of living space, and a top-tier location within the city—who is prepared to take on updates over time. It's ideal for an investor seeking a long-term hold in a stable area, or a hands-on owner who values potential over immediate polish and prefers to tailor renovations to their own taste and budget.
Key Details & FAQs
Key Characteristics & Appeal
- A Home of Substance on a Large Lot: The 2,818 sqft lot is in the top 5% for size on Maryland Street, offering rare outdoor space and potential in a mature neighbourhood. The 1,428 sqft living area is comfortably above average for the area.
- Established Location with Lasting Value: The home sits in a quiet, tree-lined part of St. Matthews. Its assessed value ranks in the top 4% city-wide, indicating a historically strong and desirable location that has held its worth.
- A Practical Project: With an unrenovated basement and a 1905 build date, the home is mechanically sound but not modernized. Its appeal is in its honest condition—what you see is what you get, without hidden cosmetic updates. Recent comparable sales on nearby streets suggest a stable market for well-positioned character homes.
Who It Suits
This home is best for the value-conscious buyer who prioritizes location and land over move-in-ready finishes. It suits an investor looking for a property with strong fundamental metrics (lot size, location rank) in a reliable neighbourhood, or an owner-occupant with a vision who sees the unrenovated spaces as a chance to build equity through selective, thoughtful updates.
Frequently Asked Questions
1. What does the "unrenovated basement" typically mean?
It generally indicates a functional, clean basement with original or older finishes. It's likely suitable for storage, laundry, and mechanical systems, but would require investment to become a modern living or entertainment space.
2. The home is 121 years old. What should I be most concerned about?
While the structure has proven its durability, priority checks should be on the age and condition of major systems: the roof, plumbing, electrical, and foundation. These are the critical, non-negotiable items in a home of this vintage.
3. The lot is large for the area. What are the advantages?
Beyond more private outdoor space, a larger lot offers better potential for landscaping, gardening, or adding features like a detached garage or shed (subject to city bylaws). It also often contributes to a greater sense of privacy and can be a key driver of long-term property value.
4. How does the assessed value compare to the likely selling price?
The assessed value ($15,100) is for municipal tax purposes and is typically lower than market value. A more relevant gauge is the 2022 sale price of $19,800 and the prices of recently sold "worth viewing" comparables on nearby streets, which ranged from approximately $19,900 to $28,500.
5. There's no garage. Is street parking a problem here?
The property does not have a garage. As a mature, residential street in St. Matthews, parking is typically readily available on-street, but it's always advisable to observe parking patterns at different times of day to ensure it meets your needs.