Property Overview: 570 Victor Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey character home built in 1905, situated on a standard city lot in the Daniel McIntyre neighbourhood. Its key characteristic is its modest scale, with a living area of 666 sqft that is notably smaller than most comparable homes in the area and citywide. The home features a renovated basement and a detached garage.
Its appeal lies in its simplicity and affordability within a central Winnipeg community. The recently renovated basement adds functional living space, making the overall footprint more manageable for the right buyer. The property’s assessed value is proportionally higher than its size would suggest for the immediate street, indicating that the renovations and lot value are recognized factors. It last sold in 2020 for $160,000.
This home would best suit a first-time buyer, an investor, or someone looking to downsize into a low-maintenance property without a large renovation project. It’s for a buyer who values location and character over square footage, and who sees the benefit of a home where significant updates (like the basement) have already been addressed. The smaller size makes it efficient to heat and maintain, a practical consideration often overlooked.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 666 sqft above grade, it is significantly smaller than the average Winnipeg home. However, the renovated basement effectively doubles the usable living space, making it a practical full-home for one or two people.
2. Why is the assessed value relatively high for such a small house?
While the living area is small, the assessment reflects the renovated condition, the value of the land in Daniel McIntyre, and the detached garage. On its own street, its assessment is around the median, suggesting the value is in line with updated properties on the block.
3. What should I know about a house built in 1905?
While it offers classic character, prospective buyers should pay close attention to the condition of original elements like the foundation, wiring, and plumbing. A thorough inspection is essential to understand what modernizations have been completed and what may be needed.
4. Is the neighbourhood a good investment?
Daniel McIntyre is a mature, central neighbourhood. The property’s value has remained stable relative to its immediate area, as seen in its 2020 sale price. Its appeal is for long-term stability and convenience rather than speculative, rapid appreciation.
5. How does the lot size affect potential?
The 2,345 sqft lot is slightly below average for the area but is still a good size for a home of this scale. It offers adequate outdoor space for gardening or entertaining without being burdensome to maintain. There is likely limited potential for major expansion due to the home’s footprint and typical zoning.