Property Overview: 648 Toronto Street, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home in Winnipeg's Daniel McIntyre neighbourhood, built in 1904. With 1,147 sqft of living space, it offers a size that is very typical for its immediate area and represents a straightforward, no-frills urban property. Its appeal lies in its authenticity and position as a practical entry point into the market. The home has an unfinished basement and no garage, presenting a clean slate for updates according to a new owner's taste and budget.
The data reveals a nuanced picture: while the home's size and assessed value are average for its specific street and neighbourhood, it sits well below city-wide averages for value, land size, and modernity. This underscores its role as an affordable, character-filled option in a central location, rather than a large or modernized property. It would suit a first-time buyer, an investor, or a hands-on owner who values location over turn-key condition and sees potential in a historic structure. The very low assessed value relative to the city suggests a property tax advantage, which is a significant but less obvious financial benefit for budget-conscious owners.
Frequently Asked Questions
Q: What does "one-and-three-quarter storey" mean?
A: This is a common architectural style for homes of this era. It typically means the second floor has slightly less full-height ceiling space than a true two-storey home, often with dormer windows, creating cozy, character-filled bedrooms.
Q: How does the assessed value compare to the last sale price?
A: The home sold for $170,000 in May 2022. Its current assessed value is $18,100. This large discrepancy is important to note; property taxes are based on the assessed value, not the market sale price, which can result in relatively low annual taxes.
Q: What are the implications of an unfinished basement?
A: It provides flexible storage or mechanical space and allows a future owner to finish it to their own specifications without needing to undo previous work. However, it also means any immediate need for additional living space would require an investment.
Q: The home is older than most in the city. What should I consider?
A: While offering charm, a 1904-built home will likely have older building systems (like wiring and plumbing) and require diligent maintenance. A thorough inspection is essential to understand the condition and plan for any necessary updates.
Q: With no garage, what are the parking options?
A: This typically means on-street parking. It's advisable to check with the city regarding any permit requirements or restrictions on Toronto Street to understand the day-to-day practicality for vehicle storage.