Property Overview: 701 Victor Street, Winnipeg
Key Characteristics & Appeal
This is a classic two-storey home built in 1905, offering a practical footprint of 1,071 sqft on a standard city lot in the Daniel McIntyre neighbourhood. Its key features include a renovated basement and a detached garage. The appeal here is grounded in value and potential. With an assessed value significantly below averages for the street, neighbourhood, and city, it presents an accessible entry point into the market. The home’s living space is modest compared to immediate neighbours but is typical for the broader area, suggesting a cozy, efficient layout.
This property would suit first-time buyers or practical investors looking for a character home without a premium price tag. Its below-average assessment for the area could indicate an opportunity for equity growth through updates. The renovated basement adds functional living space, a valuable asset in a home of this size. A thoughtful perspective is that this home represents the honest, working character of its neighbourhood—it’s not the largest or newest on the block, but it offers solid fundamentals and a chance to put down roots in a well-established community.
Frequently Asked Questions
1. Is the low assessed value a concern?
Not necessarily. While below area averages, it primarily reflects the city’s valuation for tax purposes and can be influenced by the home’s age, size, and recent sales. It often makes the property more financially accessible and may present a future value opportunity.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, ceiling height, permits, and whether it includes a legal secondary suite or is simply improved living space.
3. How does the home’s age affect maintenance?
Built in 1905, the home is over a century old. While it offers character, prospective buyers should budget for and prioritize inspections for foundational integrity, historical wiring or plumbing updates, and roof condition.
4. Is the detached garage a full-sized garage?
The listing notes a detached garage but not its dimensions. On a standard city lot, it’s likely a single-car garage or lane-access shed. Verifying its size and condition is recommended for those with vehicle storage needs.
5. How does this home compare to others on the street?
The data shows it has less living area than the average home on Victor Street but a comparable lot size. This suggests it might be a more compact or efficiently designed home compared to some neighbours, which can mean lower utility costs and less upkeep.