482 Simcoe Street

Property Overview: 482 Simcoe Street, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home in Daniel McIntyre is a character property with practical updates. Its key feature is generous living space (1,415 sq ft), which ranks well above average for both the street and the neighbourhood. The home sits on a standard city lot and includes a renovated basement, adding functional space. Built in 1907, it shares the classic charm and solid construction of its peers on the block.

The appeal lies in its established, no-frills practicality within a mature community. It offers more interior room than many nearby homes, and the renovated basement suggests modern livability without losing its original character. The property’s assessed value is modest relative to the wider city, positioning it as a value-conscious entry into a central Winnipeg neighbourhood.

This home would suit a first-time buyer or practical investor looking for character without a massive restoration project. It’s also a fit for those who prioritize interior space over a large yard or a garage, and who appreciate being in a historic streetscape where homes are of a similar vintage and scale.

Section 2: Frequently Asked Questions

1. How does the assessed value compare to the recent sale price?
The home sold for $250,000 in August 2023, which is significantly higher than its current assessed value of $21,600. This is a common disparity, as assessed values for tax purposes often lag behind market sale prices, especially in active markets.

2. What does the "renovated basement" likely include?
While specifics aren't listed, a renovated basement in a home of this age typically means it has been finished into a livable space, possibly with a recreation room, bedroom, or additional bathroom. It implies the space is insulated, has proper flooring and ceilings, and is comfortable for use.

3. Is the lack of a garage a major drawback in this area?
Many homes on Simcoe Street and in Daniel McIntyre do not have garages, relying on street parking. For buyers accustomed to central neighbourhoods, this is an expected trade-off for location and lot size. It’s important to check local parking regulations.

4. How does the age of the home affect maintenance?
Built in 1907, this home will have the maintenance considerations typical of its era, such as potential updates to original windows, plumbing, or electrical systems. The renovated basement is a positive sign, but a thorough inspection is always recommended to understand the condition of the core structure and major systems.

5. The home seems large for the area. Does that make it a standout?
Yes, its living area is in the top 14% on its street. This means it offers more interior space than most direct neighbours, which is a key advantage. However, the lot size and exterior are consistent with the streetscape, so it provides extra space without feeling disproportionately large.