Property Overview: 544 Toronto Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey character home built in 1904, situated on a standard city lot in the Daniel McIntyre neighbourhood. Its key defining feature is its modest scale, with a living area of 666 sqft that places it among the smaller homes in the city. The basement exists but is unrenovated, and there is no garage or pool. The home’s assessed value is notably low compared to the Winnipeg city-wide average, though it is more in line with averages for its immediate street and neighbourhood.

The primary appeal lies in its potential as an affordable entry point into homeownership or as a straightforward investment property. It suits buyers seeking minimal property taxes, a manageable amount of space to maintain, or a renovation project on a foundational level. A less obvious perspective is its appeal to those prioritizing location and lot ownership over square footage, offering a chance to own a detached home in a central area where similar-sized condos might be the alternative. It would not suit those needing move-in-ready finishes, multiple bedrooms, or significant storage space.

Section 2: Frequently Asked Questions

1. Why is the living area so much smaller than average?
As a 1904 character home, its floor plan reflects the norms of its era. Many homes of this age and style in central neighbourhoods were built with more compact, efficient layouts compared to modern suburban designs.

2. What does the assessed value tell me about the property tax?
The assessed value of $17,200 is a key figure used to calculate property taxes. While market sale price can differ, this low assessment suggests annual property taxes will be very manageable, which is a significant ongoing cost advantage.

3. The home sold for $20,500 in late 2022. Is that a useful guide for today’s value?
It indicates the home transacted at a very accessible price point recently. However, market conditions, interest rates, and any changes to the property since that sale must be considered for a current valuation.

4. What are the implications of an unrenovated basement?
This typically means the basement space is in a raw or utility state, suitable for storage and housing mechanical systems but not finished as living space. Any future development would require significant investment and proper permits for moisture control and insulation.

5. How does the land value factor into this property?
With a land area of 2,321 sqft, you are purchasing a standard city lot in a central location. In many older neighbourhoods, the land itself often represents a substantial portion of the property’s long-term value, sometimes more than the current structure.