Property Overview: 552 Toronto Street, Winnipeg

Key Characteristics & Appeal

This is a classic one-and-three-quarter storey home in Winnipeg's Daniel McIntyre neighbourhood, built in 1907. With 1,044 sqft of living space and a detached garage, it sits on a modest 2,321 sqft lot. The home presents a grounded opportunity: its living area and assessed value are generally around average for its immediate street and neighbourhood, offering a manageable scale in an established community. The appeal lies in its straightforward, no-frills profile—a home that hasn't been renovated, allowing a buyer to put their own stamp on it without paying a premium for recent updates. Its last known sale was in 2016.

This property would suit a practical first-time homebuyer or an investor looking for a character home in a central location without a massive footprint or price tag. It’s for someone comfortable with a home of this vintage, who sees potential in its existing structure and values the character of an older neighbourhood over newer construction. A thoughtful perspective is that its "average" metrics within the local context could be a stability indicator, suggesting it's not overpriced relative to its immediate peers, while the city-wide comparisons highlight the more affordable lot and home sizes typical of central, historic neighbourhoods.

Frequently Asked Questions

1. What does "one & 3/4 storey" mean?
This is a common architectural style for homes of this era. It typically means the second floor has full-height ceilings in the center, but the ceiling height slopes down with the roofline in the rooms around the perimeter, often creating cozy nooks or smaller secondary rooms.

2. The assessed value seems low. What does that indicate?
The assessed value is for municipal tax purposes and is not the market value. Its assessment being around the neighbourhood average suggests the city views it as typical for the area. The significant gap when compared to the wider city average simply reflects the substantial difference in property values between central, older neighbourhoods and newer suburban areas.

3. What is implied by "basement, not renovated"?
This indicates the basement exists but is in original or utilitarian condition. It likely has foundational living space, such as a laundry area or storage, but has not been modernized into a finished rec room or living space. Buyers should budget for potential updates or moisture management common in basements of this age.

4. How does the lot size affect this property?
At just over 2,300 sqft, the lot is smaller than the city average but typical for the Daniel McIntyre area. This means lower maintenance, which can be a benefit, but offers limited space for large additions or extensive landscaping. It emphasizes the home's efficient use of urban space.

5. The home is over 115 years old. What should I consider?
While offering charm and character, a home from 1907 requires a focus on its major systems. A thorough inspection is essential to understand the condition of the foundation, roof, plumbing, electrical wiring, and heating system. The unrenovated state means original materials like plaster and lathe may be present, which can affect renovation plans.