Property Overview: 477 Simcoe Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1907, is a classic Daniel McIntyre property that represents a straightforward entry into Winnipeg’s established neighbourhoods. With 1,116 sqft of living space and a 2,500 sqft lot, its size is very typical for the immediate area, offering a manageable footprint. The home features a detached garage and an unrenovated basement, presenting a canvas for future customization.
The primary appeal lies in its positioning as a statistically average home within its local context. Its assessed value and living area consistently rank in the middle of the pack for Simcoe Street and the Daniel McIntyre neighbourhood, suggesting it’s a stable, no-surprises option in a community of similar vintage homes. This makes it particularly suited for first-time buyers or practical investors seeking a character home without premium pricing, and who are comfortable with a property that may require updates over time. A thoughtful perspective is that its "average" metrics within an older, central neighbourhood can signal reduced volatility and a predictable cost base compared to newer or more rapidly changing areas.
Section 2: Frequently Asked Questions
1. What does the assessed value tell me about the property tax?
The assessed value is $18,500. Property tax is calculated by applying the City's annual mill rate to this assessment. It's important to note this value is for tax purposes and is typically much lower than the market sale price, as seen in the listed 2023 sale of $170k.
2. How does the unrenovated basement affect the home?
An unrenovated basement offers functional space for utilities and storage but will lack finished living areas. This presents both a cost-saving opportunity (lower purchase price) and a future project to add value, depending on the buyer's goals and budget.
3. Is the home’s age (1907) a concern?
The age is very common for the street and neighbourhood. While it means potential for older systems (plumbing, wiring) that may need attention, it also indicates a well-established streetscape. Many nearby homes were built in the same era.
4. How does the lot size compare?
At 2,500 sqft, the lot is slightly below the average for Daniel McIntyre but standard for Simcoe Street. It provides a modest yard space typical of central, older neighbourhoods, balancing outdoor area with low maintenance.
5. What do the "rankings" for living area and value mean?
These rankings compare this home to others. For example, its living area is in the top 46% on its street, meaning it's slightly larger than many direct neighbours. Its assessed value ranks in the top 36% on the street, indicating it's assessed a bit higher than many nearby homes, which can be a marker of its relative condition or structure.