Property Overview
700 Toronto Street is a classic two-storey home in Winnipeg's Daniel McIntyre neighbourhood. Built in 1903, it offers 1,010 sqft of living space and sits on a notably generous 2,897 sqft lot for the area. The home features a basement that is present but not renovated, and it does not include a garage or pool. Its most recent recorded sale was in 2016 for $150,000.
Key Characteristics & Appeal
This property is defined by its historic character and its land value. The home itself is modest in size and typical for its century-old age, with an assessed value that is average for the immediate area but well below the Winnipeg city average. Its primary appeal lies in its above-average lot size for Toronto Street, offering more outdoor space and potential than many neighbouring properties. It suits a specific type of buyer: those seeking an entry point into homeownership who are comfortable with a project, or an investor looking for a character property with land value in a central location. The appeal is less about move-in-ready finishes and more about the opportunity inherent in the lot and the solid, unrenovated canvas of a historic home. It’s a practical choice for a hands-on buyer who values space over modern amenities and sees potential in a property’s foundational assets.
Frequently Asked Questions
1. What does "basement not renovated" typically mean for a home of this age?
It generally indicates the basement retains its original, functional state—likely with concrete floors, exposed beams, and basic utilities. It's usable for storage and mechanicals but may have lower ceilings and would require investment to finish as living space.
2. How significant is the lot size here?
The lot is over 15% larger than the average on Toronto Street, which is a meaningful difference in an established neighbourhood. This provides more yard space, better potential for additions or landscaping, and contributes significantly to the property's value proposition.
3. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and reflects factors like age, condition, and recent sales in the area. A value significantly below the city average suggests the home is considered a more basic offering in the market, not that it's incorrectly assessed. It often correlates with lower property taxes.
4. Who would this property not suit?
It would not suit buyers seeking a turn-key, modern home with ample storage (no garage) and updated systems. It also may not fit those needing more interior square footage, as the living area is below the city average.
5. What should a potential buyer investigate first given the year built?
A thorough inspection of the foundation, roof, wiring, and plumbing is essential. Homes from 1903 often have unique upkeep needs and may have undergone various updates over the decades that should be professionally evaluated.