2-722 Maryland Street

Property Overview: 2-722 Maryland Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, historic property built in 1914, located in the Daniel McIntyre neighbourhood. Its most defining characteristic is its exceptionally low municipal assessed value, which places it in the bottom percentile for the street, neighbourhood, and entire city. With a living area of 400 square feet and no basement, garage, or pool, it represents a minimal footprint.

The appeal lies primarily in its potential as an entry point into the housing market or as a strategic investment. It suits a very specific type of buyer: an investor looking for a low-cost addition to a portfolio, a hands-on individual seeking an ultra-affordable renovation project, or someone interested in a minimalist, low-overhead living situation where location is prioritized over space. A less obvious perspective is its potential for non-traditional use, such as a private studio or workspace, given its standalone nature within what appears to be a multi-unit street address. The property’s top-tier location ranking suggests it sits on a desirable street within a well-regarded neighbourhood, offering a compelling contrast between its prime location and its modest scale and condition.

Section 2: Frequently Asked Questions

1. What does a very low assessed value indicate?
It typically reflects the property's small size, age, and current condition as determined by the city for tax purposes. It suggests significant renovation or updating may be needed.

2. Who is responsible for maintenance in a property like this?
As a freehold property, the owner is responsible for all maintenance, repairs, and upgrades, both inside and out.

3. Is this a standalone house or part of a condominium or co-op?
The listing details suggest it is a separate, freehold building (not a condo). However, the addressing ("2-722") indicates it is likely one of several units on a shared parcel of land, so verifying the exact legal title and any shared agreements is crucial.

4. Why is the location ranking so high if the property itself ranks so low?
The location rankings are based on the street and neighbourhood's overall desirability. This highlights that the property's value is almost entirely in its land and location, not its current structures.

5. What should I investigate before considering a purchase?
A thorough inspection is essential to understand renovation costs. You should also clarify the legal property description, check for any liens or outstanding taxes, and investigate if there are any shared costs or agreements with the neighbouring units at 722 Maryland Street.