Property Overview: 554 Maryland Street, Winnipeg
Key Characteristics & Buyer Appeal
This one-and-a-half storey home, built in 1896, is a classic character property in the Daniel McIntyre neighbourhood. Its key features include a renovated basement and a detached garage. With 1,187 sqft of living space, it is a comfortably sized home that sits on a notably generous lot for the area—its land area ranks well above the neighbourhood average. While the home’s living space is modest compared to others on its street, its assessed value is consistent with the local area.
The appeal lies in its established location, historic charm, and the practical value of a renovated basement and larger-than-average lot. It would suit a first-time buyer or an investor looking for a character home in a central neighbourhood without a premium price tag. The lot size also offers potential for gardening or outdoor space that can be rare in older central areas. A thoughtful perspective is that this property represents a balance: you acquire the charm and location of a century-old home while the updated basement suggests some modern livability has already been addressed.
Frequently Asked Questions
1. How does the age of the home affect maintenance?
Built in 1896, this home is among the oldest in the city. Prospective buyers should budget for and anticipate maintenance consistent with a character home of this era, potentially involving older plumbing, electrical, or foundational upkeep.
2. Is the living space smaller than average?
Yes. The living area is below the average for homes on Maryland Street itself, but is much closer to the average for the broader Daniel McIntyre neighbourhood. This indicates the home offers a typical amount of space for the community, though some houses on its specific block are larger.
3. What does the lot size ranking mean for me?
Ranking in the top 14% for land area in Daniel McIntyre means this property has a larger yard than most in the neighbourhood. This is a significant advantage for privacy, outdoor activities, or future landscaping projects.
4. Why is the citywide assessed value ranking so high (Top 95%)?
This statistic can be misleading. It means the assessed value is low compared to the average home across all of Winnipeg, which includes many newer, larger suburban properties. It primarily reflects the home’s affordability and the character of its central neighbourhood, not an abnormality.
5. What is the context of the last sale price?
The home sold for $19.30k in October 2020. It is crucial to note that this figure is likely the land title transfer value, not the full market sale price, which is common in Manitoba property records. Current market value would be significantly higher and determined by recent comparable sales and market conditions.