Property Overview: 689 Beverley Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1910, presents a classic character home opportunity in the Daniel McIntyre neighbourhood. With 1,127 sqft of living space, its size is typical for the area, but it stands out with a larger-than-average lot of over 3,000 sqft, offering valuable outdoor space for a central location. The property features a basement, but it is noted as not renovated, and there is no garage or pool.
Its primary appeal lies in its position as a solid, no-frills canvas in an established community. The assessed value is modest, especially compared to the wider city, suggesting an accessible entry point into the Winnipeg market. The home’s age and unrenovated basement indicate it is likely best suited for a buyer comfortable with a project, whether immediate or over time. This property would suit a first-time buyer, an investor looking for a character rental, or a practical homeowner who values lot size over modern finishes and sees potential in putting their own stamp on a historic home.
A less obvious perspective is the value of its "average" metrics. In a central neighbourhood, being unexceptional in size and assessment can be a strength, offering functionality without a premium price. The large lot is a legacy feature rare in newer builds, providing room for gardens, expansion, or simply more privacy than nearby properties.
Frequently Asked Questions
1. What does "not renovated" for the basement imply?
It typically means the basement is in original or functional condition, but may lack modern finishes, an updated layout, or moisture-proofing. Buyers should budget for inspections and potential updates to suit their needs.
2. How does the lack of a garage affect daily life in this area?
Street parking is the norm. While the lot has space, adding a garage would be a future project. For many in central neighbourhoods, the trade-off for proximity to amenities is less dedicated parking.
3. The home is over 110 years old. What should I be most concerned about?
Key focus areas for a home of this age include the foundation, roof, wiring, plumbing, and insulation. An older home can be very solid, but a thorough inspection is non-negotiable to understand the condition and timeline for any major updates.
4. The assessed value seems low compared to the last sale price. Why?
Municipal assessed value for tax purposes often lags behind market value and is calculated using a specific formula. The sale price is determined by the current market. This discrepancy is common, especially after a recent sale, and does not directly limit what the property can sell for today.
5. Is the large lot a potential for future expansion or subdivision?
While the lot size is an asset, any expansion (like an addition) or subdivision would require checking with the City of Winnipeg’s zoning bylaws and planning department to understand specific permissions, setbacks, and feasibility.