Property Summary: 687 Home Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1910, presents a classic character property with modernized practicality, thanks to its renovated basement. Its key appeal lies in its strong position within the desirable Daniel McIntyre neighbourhood. While its 1,040 sqft living area is modest, the property stands out for its above-average assessed value for the area, suggesting it is well-maintained or has features that are recognized as premium in this specific market. The detached garage adds functional value, especially on a 2,498 sqft lot where space is at a premium.
This home would suit a first-time buyer or a downsizer seeking an established, walkable community without a massive footprint to maintain. It’s a practical choice for someone who values a renovated living space and neighbourhood charm over sheer size. A thoughtful perspective is that this property represents a "neighbourhood bet"—its value metrics are strongest within Daniel McIntyre itself, indicating it’s a solid contender in its immediate locale, even if its size and lot are more compact compared to the wider city.
Frequently Asked Questions
1. Is the house small compared to others in the area?
Yes, the living area is below the average for Home Street and is a compact 1,040 sqft. However, its assessed value is above average for the Daniel McIntyre neighbourhood, which can indicate quality updates or desirable features that offset the smaller square footage.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the details. This would be a key point to clarify with the seller or listing agent to understand the finish, ceiling height, and permitted uses.
3. How does the lot size affect potential for expansion or outdoor space?
The lot is 2,498 sqft, which is below average for the street and significantly smaller than the city-wide average. This likely means limited potential for major additions and a modest backyard, prioritizing low-maintenance outdoor space.
4. The home was built in 1910. Are there concerns about its age?
The age is typical for the Daniel McIntyre area. While the renovated basement is a positive, a pre-purchase inspection would be essential to assess the condition of core systems like wiring, plumbing, and the foundation, which are common considerations in century-old homes.
5. Why did the assessed value jump between the 2017 and 2021 sales?
The sale price increased from $210k in 2017 to $270k in 2021. This significant rise likely reflects a combination of market-wide appreciation and the value added by the basement renovation completed during that period.