Property Summary: 765 Simcoe Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic two-storey home built in 1905, offering 957 sqft of living space on a 2,488 sqft lot in the Daniel McIntyre neighbourhood. Its key appeal lies in being a modest, entry-level property with a very low municipal assessed value of $130k, which is significantly below city-wide averages. This creates a clear opportunity for first-time buyers or investors seeking a lower barrier to entry into the Winnipeg market.
The home suits buyers comfortable with a project. The basement is noted as unrenovated, there is no garage, and the home's age suggests potential maintenance considerations alongside its historic charm. Its living space is relatively compact compared to the city average, appealing to those seeking a simpler, more manageable footprint. A thoughtful perspective is its positioning within its immediate area: while its value and size are below average city-wide, they are much more aligned with—or even typical for—the local street and neighbourhood, indicating it's a characteristic home for this part of Daniel McIntyre. This isn't an outlier; it's a representative property for the area, which can be a stability advantage.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Municipal assessments are based on market value and are highly neighbourhood-dependent. This assessment reflects the property's value relative to similar homes in Daniel McIntyre and on Simcoe Street, where values are consistently lower than the Winnipeg-wide average.
2. What does "basement, not renovated" imply?
This indicates the basement is functional but in original or utilitarian condition. Buyers should budget for potential updates and consider inspections for moisture management and foundational integrity, common considerations in century-old homes.
3. How does the 2019 sale price of $11.70k relate to today's value?
That transaction was likely not an arms-length market sale (e.g., a transfer between family members). The current assessed value of $130k is a more relevant benchmark for its 2024 municipal valuation, though market price can differ.
4. Is the living space sufficient for a small family?
At 957 sqft, the home is cozy. It is smaller than the Winnipeg average but close to the typical size for Daniel McIntyre. It would suit a small family, couple, or individual comfortable with efficient use of space.
5. What are the pros and cons of a home built in 1905?
Pros include potential for character, sturdy construction, and a central location. Cons involve the inevitable maintenance and system updates (plumbing, electrical, insulation) required by a 119-year-old structure, which should be factored into the purchase plan.