Property Overview & Appeal
This one-and-a-half storey home on McGee Street, built in 1905, presents a straightforward opportunity in Winnipeg's Daniel McIntyre neighbourhood. Its key characteristic is a significant value proposition: with a living area of 1,079 sq ft that is average for the local area, it sits on a notably larger-than-average lot of 3,888 sq ft for both the street and the neighbourhood. This lot size offers potential for outdoor space or future expansion that is uncommon in the area. The home has an unfinished basement and no garage.
The primary appeal lies in its position as an entry point into the market, underscored by a very low assessed value. It last sold in 1990, suggesting it may be suited for a renovation or holding strategy. This property would best suit a practical buyer—perhaps a first-time investor, a hands-on renovator, or someone seeking a land-value play—who is comfortable with a project and is focused on fundamentals over immediate move-in condition. A less obvious perspective is that its age and long-term ownership could mean it has preserved original character unseen in more updated homes, while the large lot provides a rare buffer and flexibility in an inner-city neighbourhood.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical city averages?
Assessed values are for municipal tax purposes and are influenced by many factors, including recent sales and property condition. This home's very low assessment likely reflects its age, the unfinished state of the basement, and the lack of recent major renovations compared to newer or updated homes.
2. What does the lot size mean for me?
At 3,888 sq ft, the lot is larger than most in Daniel McIntyre. This provides more private outdoor space than neighbours might have and could offer future potential for additions, a garden, or a parking pad, subject to city zoning and permits.
3. Is this a move-in ready home?
The listing notes an unrenovated basement, and given the age and assessed value, buyers should budget for updates and anticipate that main systems may need attention. A thorough inspection is essential.
4. How does the 1990 sale date affect the purchase?
A sale that long ago typically indicates a stable, long-term owner. It means there is no recent sale price to easily gauge current market value, so the price will be determined by current market conditions, making a comparative market analysis crucial.
5. What is the neighbourhood like?
Daniel McIntyre is an established, diverse inner-city community. It offers character, convenience, and more affordable entry into the Winnipeg market. As with any central neighbourhood, it's wise to visit at different times to get a feel for the specific block and nearby amenities.