Property Overview: 564 Simcoe Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1906, presents a classic character home opportunity in the Daniel McIntyre neighbourhood. With 1,233 square feet of living space, it offers above-average roominess for both its immediate street and the local area. A key financial characteristic is its notably low municipal assessed value, which sits well below the citywide average. The property includes a basement, though it is noted as not being renovated, and features no garage or pool.

The appeal here is multifaceted. For the practical buyer, it represents a chance to secure a home with solid square footage in a central neighbourhood at a potentially accessible entry point, especially when considering the assessed value. Its character and age will attract those who appreciate historic homes and are prepared for the maintenance or renovation projects that come with them. This property would suit a hands-on buyer looking for a project—perhaps a first-time homeowner with renovation skills, or an investor seeking a character property with room to add value. A less obvious perspective is its positioning within the local context: while its lot size is modest for the street, the living space is generous, suggesting a home that makes efficient use of its footprint. It’s a home that feels established and rooted in its community, ideal for someone valuing location and character over modern finishes and expansive yards.

Section 2: Frequently Asked Questions

1. What does "above average for the street" mean for living space?
The home’s living area of 1,233 sq ft ranks in the top 29% of 327 comparable homes on Simcoe Street, meaning it is notably roomier than most direct neighbours.

2. Why is the assessed value so much lower than the city average?
The assessed value of $21,100 is primarily for municipal tax purposes and is based on a specific valuation model. It ranks in the top 90% citywide (meaning 90% of homes are assessed higher), which is common for older, character homes in central neighbourhoods compared to newer builds in suburban areas.

3. What should I know about the "basement, not renovated" note?
This indicates the basement is unfinished or in its original state. Buyers should budget for potential updates and consider a thorough inspection to assess its condition, moisture control, and suitability for future development.

4. How does the year built (1906) impact the home?
As a 120-year-old home, it offers classic charm but likely requires careful attention to aging components like wiring, plumbing, windows, and insulation. Its age places it among the older homes in both the neighbourhood and the city.

5. Are comparable sold prices available for reference?
A nearby reference property at 530 Simcoe Street, of similar age and neighbourhood, sold for $20,500 in late 2022. However, factors like condition, updates, and market changes mean a current valuation would require a professional assessment.