Property Overview: 502 Simcoe Street, Winnipeg

Section 1: Key Characteristics & Appeal

This two-and-a-half storey home, built in 1910, offers a blend of historic character and practical space in Winnipeg's Daniel McIntyre neighbourhood. Its key strength is its generous 1,562 sqft living area, which ranks well above average for both the immediate street and the wider community. This suggests a home with ample room for a growing family, a home office, or flexible living arrangements.

The appeal lies in its established location and the value proposition of space. While the basement is noted as unrenovated, it presents a blank canvas for future development. The home sits on a standard city lot and lacks a garage, which is typical for the area, but its above-average interior size is a significant asset. The property’s assessed value is modest compared to the city-wide average, potentially indicating a lower property tax burden and an accessible entry point into a mature neighbourhood.

This property would best suit pragmatic buyers who prioritize interior space over modern finishes and see potential in a solid, century-old structure. It’s ideal for a hands-on owner comfortable with gradual updates, or an investor looking for a character home in a central location. A less obvious perspective is that its strong ranking for living area on its street hints at it being a notably spacious option in a neighbourhood of smaller homes, offering a relative sense of privacy and volume that can be rare in the price range.

Section 2: Frequently Asked Questions

1. What does the assessed value tell me about this property?
The assessed value of $22,500 is used for calculating municipal property taxes. It is significantly lower than the city-wide average, which typically suggests a correspondingly lower annual tax bill. It is not a direct indicator of the home’s current market value, which is influenced by different factors.

2. How does the living area compare to nearby homes?
At 1,562 sqft, the living space is a standout feature. It places in the top 9% of homes on Simcoe Street and the top 11% within Daniel McIntyre, meaning it offers more interior space than the vast majority of comparable properties in the immediate vicinity.

3. What should I know about the “unrenovated” basement?
The listing notes the basement exists but is not renovated. This means it is likely a raw or utility space without finished living areas. Buyers should budget for potential moisture-proofing, insulation, and finishing if they wish to convert it into habitable space, and are advised to inspect its current condition thoroughly.

4. The home was built in 1910. What are the implications?
A 116-year-old home comes with character but also requires diligent maintenance. Prospective buyers should prioritize inspections for the foundation, roof, plumbing, and electrical systems to understand the home’s condition and anticipate potential upkeep or upgrade costs associated with its age.

5. How does the lack of a garage affect daily life?
The property has no garage. In this neighbourhood, on-street parking is common. Buyers should consider their comfort with street parking year-round, including during Winnipeg’s winter parking bans, and evaluate the cost and feasibility of adding a parking pad or structure if needed.