550 Agnes Street

Property Summary: 550 Agnes Street, Winnipeg

Key Characteristics & Appeal

This two-storey home in Daniel McIntyre presents a distinct profile. Its primary appeal lies in being a well-maintained, modern structure (built in 2005) within an established neighborhood predominantly composed of century-old homes. This means buyers can expect newer construction benefits, like updated electrical and plumbing systems, without sacrificing the character of a mature community. The home features a renovated basement and a detached garage.

While its living space (960 sqft) is modest and below the area average, this is balanced by a very efficient assessed value that ranks highly for the immediate street and neighborhood. This combination suggests a property that is financially manageable and potentially undervalued within its local context. The standard-sized lot provides typical outdoor space for the area.

This property would suit first-time homebuyers or practical investors seeking a low-maintenance, turnkey home in a central location. It’s ideal for those who prioritize modern mechanics over square footage and see value in a newer asset in an older area. It may also appeal to buyers looking for a straightforward property without the hidden maintenance surprises common in much older homes.

Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value of $24,500 is for municipal tax purposes only. Market value is determined by recent sales of comparable properties and can be significantly higher, as indicated by the home’s 2022 sale price.

2. The living area seems small. How does the layout function?
At 960 sqft, the home is compact. The appeal likely comes from efficient use of space across its two floors and a renovated basement, which adds functional living or storage area. Buyers should verify the room sizes and layout to ensure it meets their needs.

3. What does it mean that the home is "newer" in an old neighborhood?
Built in 2005, this home is a notable exception on a street where most homes were built around 1915. This typically translates to newer major systems (roof, furnace, windows) and potentially more contemporary building codes, offering peace of mind and lower immediate repair costs.

4. How does the detached garage impact utility?
A detached garage provides secure parking and storage but requires going outdoors to access the house. This is a common feature in older neighborhoods. Consider your preference for convenience versus the separation it provides.

5. The sale history shows a significant price change. What does that indicate?
The sold price dropped from $160k in 2017 to $21.5k in 2022. This drastic reduction is almost certainly not a market decline but likely reflects a sale between family members, a title transfer, or a non-arms-length transaction. It should not be used as a direct indicator of current market value.