Property Overview: 550 Beverley Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1907, offers 1,440 sqft of living space on a 2,496 sqft lot with a detached garage. Its primary appeal lies in its above-average interior space for the Daniel McIntyre neighbourhood, providing more room than many nearby comparables. The property presents a grounded opportunity: it’s a character home in a central location with a functional layout and yard, but it’s clear the basement is unfinished and not renovated. The assessed value is notably below both neighbourhood and city averages, which could indicate a value proposition for the right buyer or reflect the condition and need for updates.
This home would suit a practical buyer looking for a character property in a central Winnipeg neighbourhood without paying a premium for modern finishes. It’s ideal for someone with a renovation budget or a willingness to improve a home over time. A thoughtful perspective is that this property offers "space over finish"—you’re acquiring generous square footage and lot size for the area, with the trade-off being the investment required to modernize it. It’s less suited for those seeking a turn-key or newly renovated home.
Frequently Asked Questions
1. What does "basement not renovated" typically mean?
It usually indicates an unfinished or partially finished basement in its original, utilitarian state. Expect concrete floors, exposed beams and mechanicals, and basic walls. It offers storage and potential but requires significant work to become livable space.
2. How significant is the below-average assessed value?
It’s a key point for consideration. While it can suggest a lower property tax burden, it often correlates with the home’s condition and lack of recent major updates. It’s crucial to differentiate between market value and assessed value through a current appraisal and market analysis.
3. What are the implications of a 1907 build date?
You benefit from classic construction and character, but should budget for potential updates to older systems like wiring, plumbing, and insulation. A thorough inspection is essential to understand the condition of the original structure and any prior updates.
4. Is the living area size a major advantage?
Yes, particularly in this context. The home ranks in the top 15-16% for living area within its immediate area, meaning you get more interior space than most nearby homes. This is a tangible asset that isn’t always easy to find in central neighbourhoods.
5. Who might the detached garage appeal to?
Beyond vehicle storage, it offers valuable flexible space for a workshop, studio, or additional storage—a notable perk for hobbyists, tradespeople, or families needing extra room. In a neighbourhood of mostly older homes, a detached garage is a practical asset.