Property Overview: 518 Beverley Street, Winnipeg

Key Characteristics & Appeal

This two-storey home, built in 1911, presents a classic character property with modern practicality. Its key appeal lies in a balance of established neighbourhood charm and recent updates. The home offers 1,200 sqft of living space, which is comfortably average for the Daniel McIntyre area, but it stands out for its renovated basement, adding functional living area. The assessed value is notably above average for both the street and the neighbourhood, suggesting recent improvements or desirable attributes that are recognized in its valuation.

The property would suit first-time buyers or downsizers looking for a manageable, updated home in a central, established community without the upkeep of a large lot. It also appeals to value-conscious buyers who prioritize a renovated interior over a large private yard, as the land size is modest by city-wide standards. A less obvious perspective is its potential for a buyer interested in the stability of an older, well-located neighbourhood where the property itself already shows signs of care and investment, as indicated by its strong assessed value ranking locally.

Frequently Asked Questions

1. How does the assessed value compare to the recent sale price?
The home sold in April 2021 for $21,600. Its current assessed value is $24,200, which is above average for the immediate area. This suggests the property may have seen improvements or that the assessment reflects strong local market values.

2. Is the lot size a limitation?
At 2,497 sqft, the lot is average for Beverley Street and Daniel McIntyre but is significantly smaller than the Winnipeg city average. This means lower maintenance but also limited space for extensive gardening, expansions, or detached structures.

3. What does the "renovated basement" typically mean for a home of this era?
In a 1911 home, a renovated basement often means updated finishes and improved livability. It’s crucial to confirm the nature of the renovation, including ceiling height, moisture control, and whether it includes a proper secondary suite or simply additional living space.

4. The home is older—what should I be mindful of?
Built in 1911, the home is above average in age even for its historic neighbourhood. Prospective buyers should pay special attention to the condition of foundational elements, the roof, wiring, and plumbing, which may have been updated over time but warrant thorough inspection.

5. How does this property fit within the context of the street?
The home ranks highly for assessed value on its street (Top 9%), indicating it is considered one of the more valuable properties on the block. However, its living and land area are squarely average, meaning its value is likely driven by factors like condition, updates, or specific features rather than sheer size.