502 Beverley Street

Property Overview: 502 Beverley Street, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey character home built in 1907, situated on a standard city lot in the Daniel McIntyre neighbourhood. Its primary appeal lies in being an affordable entry point into Winnipeg’s housing market, particularly for a stand-alone house with a detached garage. At 720 sqft, the living space is notably smaller than most city and area averages, positioning this property for buyers who prioritize simplicity, lower maintenance, and a lower initial cost over square footage.

The home’s assessed value is above average for its immediate street and in line with the neighbourhood average, suggesting it is perceived as well-maintained or updated relative to its direct peers. A key, less obvious perspective is that its smaller size and lot, while below city-wide averages, translate to manageable upkeep and utility costs—a practical advantage for first-time buyers, downsizers, or investors. The renovated basement adds functional living space. This property would suit a pragmatic first-time homebuyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance lifestyle without leaving the core neighbourhoods.

Frequently Asked Questions

1. Is the house actually livable at only 720 sqft?
Yes, but it requires efficient use of space. The layout is likely compact, making it suitable for individuals, couples, or those comfortable with a cozy footprint. The renovated basement provides crucial additional space for utilities, storage, or a recreational area.

2. Why is the assessed value higher than many neighbours if the house is so small?
The assessment likely reflects factors like the renovated basement, overall condition, and updates that aren't captured in square footage. It indicates the property is in better shape than many older, comparably sized homes on the street.

3. What are the implications of the home’s age (1907)?
Expect character charm but also the potential for older-home maintenance. While systems may have been updated, buyers should prioritize a thorough inspection for foundation, wiring, and plumbing typical of the era.

4. How does the detached garage add value?
In a dense neighbourhood, a detached garage offers secure parking and valuable storage or workshop space, a significant perk not always available with smaller, historic homes.

5. Who is this property not suited for?
It’s not ideal for growing families needing multiple bedrooms, those who work extensively from home and need dedicated office space, or anyone who prefers modern, open-concept layouts, which can be difficult to achieve in a home of this vintage and size.