Property Overview: 704 Simcoe Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1905, presents a classic character property in Winnipeg's Daniel McIntyre neighbourhood. With 1,210 square feet of living space, it offers a practical footprint that is slightly above average for similar homes on its street. Its core appeal lies in its position as an affordable, no-frills entry point into the city's housing market, particularly for a centrally located area. The home features a basement, though it is noted as not being renovated, and does not include a garage or pool.
The property would best suit a pragmatic first-time buyer, an investor looking for a rental property, or a hands-on individual comfortable with a home that may require updates. Its assessed value is notably below the citywide average, suggesting a lower property tax burden, which is a significant but less obvious advantage. The lot, while smaller than the city average, is typical for the area and offers manageable outdoor maintenance. A thoughtful perspective for the right buyer is viewing this as a "blank canvas" property—its historical charm and central location provide a solid foundation, with value to be added through strategic, gradual improvements.
Section 2: Frequently Asked Questions
1. What is the significance of the "not renovated" basement?
This typically indicates the basement retains its original or older state, possibly with unfinished areas, older utilities, or limited moisture protection. It should be factored into inspection priorities and future renovation budgets.
2. How does the below-average assessed value affect me?
A lower assessed value generally translates to lower municipal property taxes compared to similar-sized homes with higher assessments. This is a recurring annual saving.
3. What are the implications of the home's age (1905)?
While offering character, a home of this age likely has older building materials and systems. Prospective buyers should budget for potential updates to wiring, plumbing, or insulation, and seek a thorough inspection to understand its condition.
4. With no garage, what are the parking options?
The property likely relies on on-street parking. Buyers should verify local parking regulations with the city to understand any restrictions or permit requirements.
5. The living area is above the street average, but the lot size is below. What does this mean?
This suggests the home makes efficient use of its lot, potentially with a larger footprint or multiple stories. It means more indoor living space relative to the yard size, which is a common trade-off in older, established neighbourhoods.