572 Toronto Street

Property Summary: 572 Toronto Street, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 1906, is a classic character property in the Daniel McIntyre neighbourhood. With 1,082 sqft of living space and a 2,321 sqft lot, its size is very typical for houses on Toronto Street itself, offering a manageable footprint. The home presents a solid, no-frills opportunity. Its core appeal lies in its established location, historical charm, and a below-average assessed value that suggests potential for equity growth, especially for those willing to take on updates over time. The basement exists but is noted as not renovated, indicating a clear project area.

This property would best suit a pragmatic first-time buyer or an investor looking for an entry point into a central Winnipeg neighbourhood. It’s for someone who values character over modern finishes and sees potential in a home that is average for its immediate street but sits on a smaller, more urban lot compared to broader city standards. The data suggests you’re buying into a street of similar vintage and scale, which can provide neighbourhood consistency, but with the understanding that citywide, it’s an older home on a compact parcel.

Section 2: Frequently Asked Questions

1. What does the assessed value tell me?
At $17,400, the assessed value is significantly below the citywide average for homes. This typically indicates a lower property tax base but often reflects the home’s age, condition, and lot size compared to newer suburban developments. It can represent a value opportunity.

2. How does the lot size impact the property?
The 2,321 sqft lot is average for Toronto Street but below average for both the Daniel McIntyre area and Winnipeg overall. This means smaller outdoor space but also less maintenance. It aligns with the neighbourhood's more urban, close-knit feel.

3. The home sold in 2019 for $190,000. How is that relevant?
That sale price provides a recent market benchmark. Comparing it to the current assessed value is important, but the sale is now several years old. Market conditions, interest rates, and any changes made to the property since then will determine its current value.

4. What should I know about the "not renovated" basement?
This confirms the basement is in original or utilitarian condition. It likely requires significant work for finishing and may have moisture, insulation, or egress considerations. Budgeting for professional inspection and potential renovation is crucial.

5. The home is older than most in the city. What does that mean?
Built in 1906, it offers character but comes with expectations. Original materials like plaster and lathe, older wiring or plumbing, and historical maintenance needs are common. This appeals to those who appreciate classic construction but requires a willingness to maintain an older structure.