519 Toronto Street

Property Summary: 519 Toronto Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1905, is a classic character property in the Daniel McIntyre neighbourhood. With 1,044 sqft of living space and a renovated basement, it offers a functional layout on a standard city lot. Its key appeal lies in its strong position within its immediate context. While its size and age are average for Toronto Street, its Assessed Value ranks in the top 25% for the street, suggesting it is viewed as a well-maintained or improved property among its direct peers. This creates an interesting value proposition: you’re acquiring a home that stands out positively on its own block.

The property would suit a first-time buyer or an investor looking for a character home in a central, established neighbourhood without the premium of a newer or significantly larger property. It’s for someone who appreciates the charm of an older home and values a location where the property metrics indicate good relative standing compared to neighbours. The detached garage adds practical storage or workshop space, a valuable asset in a central area.

Section 2: Frequently Asked Questions

1. Is this a good value for the area?
The data suggests it is a strong value for Toronto Street specifically. Its assessed value is notably above the street average, which often correlates with updates or condition, while its purchase price may not carry the same premium as homes in wider comparisons.

2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key question for a viewing, to understand if it’s a cosmetic update or includes foundational upgrades like moisture control, insulation, and proper egress.

3. How does the age of the home (1905) affect it?
While charming, a 121-year-old home requires a mindful approach. Its age is average for the street but below average for the wider city. Prospective buyers should prioritize a thorough inspection focusing on historical wiring, plumbing, insulation, and the structure’s integrity.

4. Why is the city-wide assessed value ranking so low (Top 91%)?
This isn’t necessarily negative. It primarily reflects that this is a modest-sized, older home in a central neighbourhood being compared to all property types across Winnipeg, including newer, larger suburban homes. The more relevant metrics are its strong standing on its own street and within Daniel McIntyre.

5. What is the potential here?
The appeal is in the established neighbourhood and the home’s relative strength among its peers. Potential lies in continuing to maintain and thoughtfully update a solid character property, rather than in major expansion, given the lot size is typical for the area.