486 Simcoe Street

Property Overview: 486 Simcoe Street, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 1907, presents a classic character property in the Daniel McIntyre neighbourhood. With 1,200 sqft of living space and a 2,754 sqft lot, its size is comfortably above average for both its immediate street and the local area. A key standout is its assessed value of $230,000, which ranks significantly higher than most homes on Simcoe Street and in Daniel McIntyre, suggesting it is viewed as a substantial property within its established community context.

The appeal lies in its established neighbourhood setting and the potential inherent in a century-old home. It suits a buyer looking for a character home with above-average lot size for the area, who appreciates being part of a mature streetscape. This property would be a fit for a hands-on owner comfortable with the maintenance of an older home, or an investor who sees value in the strong relative assessment and the enduring demand for central Winnipeg neighbourhoods. A thoughtful perspective is that while its city-wide rankings for size and value are modest, its strong standing within its local context highlights the value of location and community over sheer square footage—it’s a larger, more valued home on its block, not just another house in the city.

Section 2: Frequently Asked Questions

1. What does the assessed value tell us about this property?
At $230,000, the assessment is well above the local area average, indicating the municipal assessor views it as a higher-value property compared to its immediate peers. This can influence property taxes but also reflects its perceived worth in the neighbourhood.

2. Is the basement finished?
No. The listing specifies the basement exists but is "not renovated," meaning it is in a utility or raw state, offering storage or future development potential.

3. How does the lot size compare?
At 2,754 sqft, the lot is larger than many on its street and is generally average for the Daniel McIntyre area. It offers a decent outdoor space for a central neighbourhood, though it is smaller than the typical city-wide suburban lot.

4. The home sold in September 2022 for $250,000. What does that recent sale indicate?
The sale two years ago provides a concrete market value benchmark from the recent past. It shows a sale price higher than the current assessed value, which can be a useful data point for understanding market trends and the owner’s potential equity.

5. What should I consider about the home’s age?
Built in 1907, the home is part of Winnipeg’s architectural heritage and likely has solid construction. Buyers should budget for maintenance consistent with a 119-year-old home and consider the potential for older mechanical systems, but also appreciate the character and durability that have allowed it to stand for over a century.