Property Overview: 395 Toronto Street, Winnipeg
Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous lot. Built in 1905, the 1,004 sqft house sits on a 4,658 sqft parcel—a lot size that ranks in the top 1% on its street and top 4% in the St. Matthews area. This offers rare potential for expansion, gardening, or outdoor space uncommon for the neighbourhood.
The appeal lies in this land-to-structure ratio. While the living area is modest and the assessed value ($144K) is below averages for both the area and city, the property is positioned as a land play or a canvas for renovation. It suits practical buyers looking for a foothold in a central neighbourhood, willing to invest in updates over time. It’s also a fit for those who prioritize private outdoor space over a large interior in the immediate term. A thoughtful perspective is that the lower assessment could translate to relatively lower property taxes, which is an ongoing financial consideration.
Frequently Asked Questions
1. What does the "Elite" ranking for land area actually mean?
It means this property's lot size is larger than 99% of comparable homes on Toronto Street and 96% of those in the wider St. Matthews area, making its outdoor space a standout feature.
2. The house was built in 1905. What should I consider?
While the home has historic character, a building of this age will likely require careful attention to foundational, electrical, and plumbing systems. Budgeting for maintenance and potential updates is essential.
3. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the property's current state and market position. The modest-sized, older home combined with the neighbourhood's pricing contributes to this, though the significant lot size is a value factor not fully captured by the assessment alone.
4. Are there recent sales records available for this specific address?
The public listing does not show a direct sales history. Exact prior sale figures can be requested manually from the listing provider via the "Request exact figures by email" option on the detail page.
5. How does this property compare to its immediate neighbours?
Nearby homes on Toronto Street are of similar vintage. The key differentiator for 395 Toronto Street is its substantially larger lot size compared to the street average, offering more privacy and potential.