Property Overview: 656 Maryland Street
Section 1: Key Characteristics & Appeal
This two-storey home, built in 1905, presents a classic character property in Winnipeg's Daniel McIntyre neighbourhood. With 1,344 sqft of living space, it offers a practical footprint that is comfortably above average for the immediate area. A key feature is its 3,505 sqft lot, which is notably larger than many lots in Daniel McIntyre, providing valuable outdoor space and potential. The home includes a basement and a detached garage.
Its primary appeal lies in its position as a relatively affordable entry point into the market, underscored by a currently low assessed value. This creates an opportunity for buyers willing to take on a project. The home suits first-time buyers or investors looking for a character home with "good bones" and the chance to add value through updates. It’s less suited for those seeking a modern, turn-key property, as the basement is noted as not being renovated. A thoughtful perspective is that its larger-than-neighbourhood-average lot could be a long-term asset, offering more flexibility for gardening, expansion, or simply more privacy than is typical for the area.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed values are based on a mass appraisal system and historical data. A significantly lower assessment, especially for an older home, often reflects its original condition, lack of recent major renovations, and the specific market dynamics of its immediate area compared to the wider city.
2. What does "basement, not renovated" typically imply?
This usually indicates the basement is in original or functional condition, but may lack modern finishes, an updated layout, or moisture-proofing. Buyers should budget for an inspection to understand the scope of any necessary work, from cosmetic updates to foundational or drainage concerns common in century-old homes.
3. Is the larger lot size a significant advantage?
In a mature neighbourhood like Daniel McIntyre, a lot size that ranks in the top 15% locally is a distinct advantage. It offers more yard space and potential for additions or landscaping than most nearby properties, which can be a key factor for future resale value and livability.
4. How does the living space compare to nearby homes?
The living area is above average for Daniel McIntyre but slightly below average for Maryland Street itself. This suggests the home is a comfortable size for the neighbourhood, though some immediate neighbours may have slightly larger footprints.
5. What should I consider about a home built in 1905?
Character comes with considerations. While the structure has proven its durability, prospective buyers should pay close attention to the condition of original systems like wiring, plumbing, and the foundation. Energy efficiency and window updates are also common considerations for homes of this era.