Property Overview: 490 Simcoe Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1907, is a classic character property in the Daniel McIntyre neighbourhood. With 1,200 sqft of living space and a 2,747 sqft lot, it offers a balanced footprint that is notably above average for its immediate street. The home’s assessed value is strong compared to its direct neighbours, ranking in the top 14% on Simcoe Street, which suggests it is viewed favorably within its local context. The appeal here lies in its established location and the potential inherent in a solid, century-old structure. The basement is noted as unrenovated, presenting a clear opportunity for customization.
This property would suit a practical buyer who values character and location over turn-key perfection. It’s ideal for someone with renovation plans—whether gradual or immediate—who can appreciate the value of a larger-than-average lot for the area and the chance to tailor the space. The data indicates it’s a home that stands out positively on its own block, making it a sensible choice for a community-minded buyer looking to put down roots and add value through thoughtful updates.
Frequently Asked Questions
1. What does the assessed value ranking actually mean for me?
While the city-wide assessed value is below average, it’s significantly above average for Simcoe Street itself. This typically indicates the property is in better condition or has more desirable features than many of its immediate neighbours, which is a positive sign for its block.
2. Is the unrenovated basement a major concern?
It’s a key consideration. It means lower immediate costs if the space is usable as-is, but any finishing will require investment. It’s a blank slate, allowing you to design the space to your needs without undoing someone else’s work.
3. How does the 1907 build year affect the home?
It places the home in the average range for the historic Daniel McIntyre area. Buyers should expect character details but also prioritize a thorough inspection for aging components like wiring, plumbing, and the foundation, common with homes of this era.
4. The lot size is noted as "below average" city-wide. Is that a drawback?
Not for the neighbourhood. City-wide averages include newer suburbs with larger lots. This property’s lot is actually above average for Simcoe Street, offering more outdoor space than many nearby homes, which is a relative advantage in this inner-city community.
5. Who is this house not well-suited for?
It’s likely not a match for someone seeking a modern, maintenance-free home or who has a strict budget with no room for updates. The unrenovated basement and age of the property require a buyer comfortable with project management or living with existing finishes for a time.