Property Summary: 363 Toronto Street, Winnipeg
Section 1: Overview & Appeal
This is a classic two-storey home built in 1907, situated on a notably large lot in the St. Matthews neighbourhood. Its key characteristics include 1,120 sqft of living space, an unrenovated basement, and no garage. The property’s primary appeal lies in its land and location rather than its current finishes. With a lot size ranking in the top 9% of the neighbourhood and an assessed value in the top 13%, it presents a solid foundation in a well-established area.
This home would suit a specific type of buyer: someone looking for a character property with clear potential, who values a larger-than-average urban lot for future expansion, gardening, or outdoor space. It’s a candidate for a renovation or hold-and-improve strategy. The relatively low assessed value compared to some nearby properties suggests it may be an entry point into the area for a hands-on buyer, an investor eyeing the lot value, or someone comfortable with a project to shape a home to their tastes over time. Its ranking data indicates you are purchasing a good piece of land with a house that has room for modernization.
Section 2: Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It generally means the basement retains its original or older state, likely with a concrete floor, basic finishes, and mechanical systems that may be functional but dated. It represents both a cost consideration and a blank canvas for future development.
2. How significant is the lot size?
At 2,330 sqft, the lot is a standout feature, ranking highly for the area. This provides valuable outdoor space and potential for additions, a garage, or landscaping that many older infill properties lack.
3. The assessed value seems low compared to some neighbours. Why?
Assessed value is for municipal tax purposes and often lags behind market value. A lower assessment can indicate the home has not been recently renovated or updated, keeping its tax valuation down, which can be an advantage for holding costs.
4. What is the neighbourhood character of St. Matthews?
St. Matthews is a mature, central Winnipeg neighbourhood with a mix of early 20th-century homes. It offers a community feel with local amenities and is known for its tree-lined streets and historic character.
5. Are there any obvious concerns with a 1907 build?
While offering charm, a home of this age will likely require attention to aging components. A thorough inspection is essential to understand the condition of the foundation, roof, wiring, plumbing, and insulation, which are typical focal points for pre-purchase due diligence on a character property.