689 Victor Street

Property Overview: 689 Victor Street, Winnipeg

Key Characteristics & Appeal

This is a classic two-storey home built in 1907, offering 1,237 square feet of living space on a standard city lot in the Daniel McIntyre neighbourhood. Its key characteristics are defined by solid, average metrics for its immediate area. The living space is typical for Victor Street, and its assessed value ranks well within the local context. The home features a basement, but it is noted as not being renovated, and the property does not include a garage or pool.

The primary appeal lies in its established location and its representation of a straightforward, no-frills entry point into Winnipeg’s housing market. It suits practical, value-conscious buyers such as first-time homeowners comfortable with a property that may need updates, or investors looking for a rental property in a central, mature neighbourhood. A thoughtful perspective is that this home represents the "bones" of a neighbourhood—a century-old structure that has been consistently occupied and maintained, offering a chance to contribute to the ongoing story of a well-rooted community rather than seeking modern perfection.

Frequently Asked Questions

1. What does "basement, not renovated" typically mean?
It indicates the basement is functional and usable but retains its original or older finishes, mechanical systems, and layout. Buyers should budget for potential updates to suit modern needs.

2. How does the assessed value relate to the likely sale price?
The assessed value is for municipal tax purposes. The home last sold for $180,000 in 2020, which is a more relevant benchmark. Sale price is determined by the current market, while assessed value is often lower and slower to change.

3. Is the lack of a garage a significant drawback in this area?
On-street parking is common in this part of Daniel McIntyre. For many residents, it's an accepted trade-off for the neighbourhood's central location and affordability. It's a point to consider for those with multiple vehicles or who prioritize private parking.

4. The home is older—what should I be most concerned about?
While systems like roofing, plumbing, and wiring may have been updated over time, a pre-purchase inspection is crucial to understand the condition of these elements, especially given the basement's unrenovated state, which may allow for easier inspection of foundational and structural components.

5. How does this property compare to others in Winnipeg overall?
The data shows that while this home is average or typical for its specific street and neighbourhood, it falls below the citywide averages for lot size, year built, and assessed value. This highlights its position as an affordable option in the central core, compared to newer subdivisions with larger lots.