Property Overview
This single-storey home at 574 McGee Street in Winnipeg's Daniel McIntyre neighbourhood presents a specific and compelling opportunity. Its key appeal lies in being a modest, renovated character home on a standard city lot, positioned at a notably accessible price point for the area.
Key Characteristics & Ideal Buyer
Built in 1906, this 788 sqft home is compact, with a living area significantly below neighbourhood and city averages. This is balanced by a renovated basement and a detached garage. The assessed value is very low compared to the city, but is around average for McGee Street itself, suggesting the street represents a value pocket within the broader market. The land size is a standard urban lot.
The primary appeal is straightforward affordability for a detached home with its own land and garage in a central location. It suits pragmatic first-time buyers, investors seeking a rental property with a manageable footprint, or downsizers who value location over square footage. A less obvious perspective is its potential as a "base camp" for someone who lives an active, urban lifestyle and needs a affordable place to sleep and store gear, not a large space to occupy. Its below-average size and value metrics in most categories aren't drawbacks for the right buyer—they are the very reason the door is open to ownership.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical city homes?
The assessed value reflects the property's specific characteristics—its smaller size, age, and the local market values on McGee Street—not a city-wide average. It indicates this is a more affordable entry point into the detached home market.
2. Is the house unusually small?
Yes, at 788 sqft, the living area is below average for the neighbourhood and city. This makes for efficient, low-maintenance living but requires thoughtful use of space.
3. What does "renovated basement" mean?
The listing confirms the basement has been renovated, but the specific finishes, layout, and whether it includes a legal suite or additional bedrooms should be verified with the seller or listing agent.
4. How does the 2022 sale price relate to the current assessed value?
The home sold for $180,000 in October 2022. The current assessed value for taxation purposes is $16,300. A property's assessed value is not its market value; market value is determined by current buyer demand and recent sales of comparable homes.
5. What is the neighbourhood like?
Daniel McIntyre is a mature, central Winnipeg neighbourhood. Being close to similar properties on McGee Street suggests a consistent streetscape. Prospective buyers should explore the specific block and surrounding amenities to gauge fit.