Property Summary: 627 Beverley Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-storey home in the Daniel McIntyre neighbourhood, built in 1905. With 1,023 sqft of living space, it sits comfortably within the average range for the immediate area. Its standout feature is the lot: at over 3,000 sqft, the land area is notably larger than many neighbouring properties, offering valuable outdoor space and potential in a mature community.
The home’s primary appeal lies in its position as a grounded, affordable entry into the Winnipeg market. The assessed value is significantly below city-wide averages, indicating a lower property tax burden and an accessible price point. It suits first-time buyers, practical investors, or those seeking a lower-cost footprint with the room to gradually renovate or expand. The unrenovated basement presents a clear project, appealing to buyers who prefer to customize rather than pay a premium for finished work. A thoughtful perspective is recognizing the value of the lot size; in established neighbourhoods, land is the appreciating asset, and this property offers more of it than its peers.
Section 2: Frequently Asked Questions
1. What does the "unrenovated basement" typically mean for a house of this age?
It generally indicates the basement is in its original or utilitarian state, likely with a concrete floor, exposed foundations/mechanicals, and minimal finishing. It’s a blank canvas but may require attention to moisture control, insulation, or updating of older systems.
2. How significant is the below-average assessed value?
It’s a key financial characteristic. It suggests a relatively low annual property tax bill compared to the city average, which improves long-term affordability. However, it also reflects the home’s current condition and market position rather than a potential future sale price.
3. Are there concerns with a 121-year-old house?
While full of character, a home from 1905 will require diligent maintenance. Buyers should prioritize inspections for the foundation, roof, wiring, and plumbing. The upside is that these homes were often built with durable materials, and many original features can be preserved.
4. Who might this property not suit?
It may not suit those seeking a move-in-ready home with modern, finished spaces, or buyers unwilling to take on a project. The lack of a garage and the need for potential basement updates are practical considerations.
5. The lot is larger than average—what are the implications?
Beyond more private outdoor space, a larger lot in a central neighbourhood provides flexibility. It could allow for additions like a garage, garden suite (subject to zoning), or a significant deck and landscaping. It also often means greater distance from neighbouring houses.