Property Overview: 727 Maryland Street
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1907, presents a classic character property in Winnipeg's Daniel McIntyre neighbourhood. With 1,332 sqft of living space, it sits on a modest 2,640 sqft lot. Its key appeal lies in its position as an entry-point home with historical charm in a central, established community. The living area is notably above average for the immediate neighbourhood, offering more interior space than many nearby homes, while its assessed value is significantly below averages for the street, area, and city. This combination suggests potential value relative to its footprint. The basement exists but is noted as not renovated, indicating a space for future customization.
This property would suit a pragmatic first-time buyer or an investor looking for a character home that doesn't require the premium price of a fully updated or larger-lot property. It's for someone who values a central location over expansive outdoor space and sees the unfinished basement as a project opportunity rather than a drawback. A thoughtful perspective is that its older vintage (1907) ranks highly on its street, meaning it carries more original heritage than many neighbours, which could be a unique appeal for the right buyer.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for older Winnipeg homes. It typically means the second floor has sloped ceilings following the roof line, with full-height walls only in the center of the rooms, creating cozy, character-filled bedrooms.
2. Why is the assessed value so much lower than the city-wide average?
The city-wide average includes all property types and newer areas. This home's assessed value is more in line with older, central neighbourhoods and reflects factors like the lot size, age, and condition (e.g., an unrenovated basement).
3. Is the small lot size a major disadvantage?
It depends on your lifestyle. The lot is smaller than most on the street and city-wide, which means lower maintenance. However, it may limit expansion possibilities or private outdoor space, making proximity to community parks more important.
4. The home is older—what should I be most concerned about?
While systems like roofing, plumbing, and electrical may have been updated over time, a 1907 home warrants a thorough inspection. Special attention should be paid to the foundation, insulation, and the condition of the unrenovated basement for moisture.
5. How does this home compare to others recently sold nearby?
Based on provided comparables, it sits in a similar price range to other character homes in Daniel McIntyre. Its living area is larger than some nearby sold properties, but lot size is generally smaller, highlighting its trade-off of interior space for outdoor space.