Property Overview: 475 Toronto Street, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home built in 1904, offering 970 square feet of living space on a standard city lot. Its key characteristics include a detached garage and an unrenovated basement. The home’s primary appeal lies in its position as an accessible entry point into the Daniel McIntyre neighbourhood. The assessed value is notably lower than averages for the street, area, and city, suggesting it may present a value opportunity for a buyer willing to invest in updates. It stands out on its street for having a more manageable lot size that is closer to the local norm, unlike many city properties.
This property would suit a first-time buyer, an investor, or a hands-on homeowner looking for a character home with a foundation to build upon. Its lower price point allows for budget to be allocated toward gradual renovations. A less obvious perspective is that its older vintage, while requiring attention, offers architectural charm and solid construction often not found in newer builds. It’s a practical canvas in an established community, better suited to those who value potential and location over immediate move-in readiness.
Frequently Asked Questions
1. Why is the assessed value so much lower than the area average?
The assessed value is based on factors like the home’s age, size, and condition relative to others. The significant difference suggests the home may require modernization, which is reflected in its official valuation.
2. What does "one-and-three-quarter storey" mean for living space?
This style typically features a main floor and a second floor where the ceilings slope with the roofline, creating cozy but potentially limited headroom in parts of the upper level. The 970 sqft includes all finished living areas across these floors.
3. Is the unrenovated basement a major concern?
It represents both a consideration and an opportunity. It will likely need evaluation for moisture, insulation, and foundational integrity, but it also provides future potential for additional living space, storage, or mechanical upgrades.
4. How does this home compare to others on Toronto Street?
The data shows its living area and land size are around average for the street, but it is older and has a lower assessed value than most neighbours. This indicates it’s a more modestly sized and priced property on a street of similar vintage homes.
5. What is the realistic scope of work needed for this property?
Given its age and the condition of the basement, buyers should budget for essential systems updates (like wiring or plumbing) and envelope improvements (like windows and insulation) alongside any cosmetic renovations. A thorough pre-purchase inspection is crucial.