Property Overview & Key Characteristics

This one-and-a-half storey home, built in 1907, is a compact and character-filled property in Winnipeg's Daniel McIntyre neighbourhood. With 939 square feet of living space and a renovated basement, it sits on a standard city lot. The data reveals a home with a notably low municipal assessed value compared to its street, area, and the wider city, placing it in a more affordable bracket. Its appeal lies in its potential as a starter home or a strategic investment in a central location. The renovated basement adds functional living space, a valuable asset in a smaller footprint home.

This property would suit first-time buyers seeking an entry point into the market, or investors looking for a rental property with a lower initial tax burden. It may also appeal to those who value a central location over square footage and are prepared to embrace the charm and potential maintenance considerations of a century-old home. A less obvious perspective is that its low assessment, while beneficial for property taxes, often signals that the home may require modernization or has features not fully captured by the valuation metric, suggesting buyers should budget for updates.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
Municipal assessments are based on mass appraisal techniques and may not reflect current market conditions or specific renovations. A significantly lower assessment can be due to the home's smaller size, older components, or the style of the property relative to others in the area.

2. What does a "renovated basement" typically mean in a home of this era?
In a 1907 home, this often indicates foundational updates like moisture control, insulation, and finished living space. It's important to verify the quality of the renovation, the ceiling height, and whether any necessary electrical or plumbing updates were included.

3. Is the low assessment a reliable indicator of low property taxes?
Generally, yes. Property tax is calculated using the assessed value, so a lower assessment typically results in a lower tax bill. However, the final tax amount also depends on the annual municipal mill rate.

4. What are the considerations for living in a 119-year-old home?
Charm and location come with practicalities. Buyers should budget for potential updates to older mechanical systems (like heating or wiring), windows, and the roof. The layout may be more compartmentalized than in modern open-concept homes.

5. How useful are the provided rankings for understanding this property's value?
The rankings are a helpful snapshot, showing how this home compares in specific metrics like size and value against immediate neighbours and the broader market. They highlight that this is a smaller, more affordable option on its street, which can indicate opportunity but also warrants a closer look at condition and market positioning.