Property Summary: 673 Toronto Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1906, presents a classic character property in Winnipeg's Daniel McIntyre neighbourhood. With 1,150 sqft of living space, it offers a size that is squarely average for the immediate area, providing a practical footprint for a small household. Its key financial characteristic is a notably low assessed value, placing it in the bottom tiers compared to both the street and the wider city. This suggests a property with significant upside for value appreciation, likely appealing to buyers comfortable with a project or seeking an entry point into the market.

The appeal lies in its potential. The home sits on a standard city lot and its unrenovated basement indicates an opportunity to customize and add value. It would suit a first-time buyer, an investor looking for a hold-and-renovate property, or someone seeking a lower-cost entry into a central neighbourhood. A thoughtful perspective is that its "below average" metrics across value and land area are precisely what create its accessibility, offering a chance to build equity through improvement rather than paying a premium for a finished product upfront.

Section 2: Frequently Asked Questions

1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a full main floor and a second floor with sloped ceilings under the roofline, often containing bedrooms. It's a common, efficient design for homes of this era.

2. Why is the assessed value so much lower than the city average?
The assessed value is based on municipal valuation for tax purposes and is influenced by factors like the home's age, condition, and specific market area. A value this far below the citywide average often reflects the home's unrenovated state and the more affordable nature of the Daniel McIntyre neighbourhood compared to newer suburban areas.

3. The home sold for $11,800 in 2017. Is the current price related?
That prior sale price is exceptionally low and not a reliable indicator of current market value. Such a figure often represents a non-arms-length transaction (like between family members) or a sale of the property under very unique circumstances.

4. What are the implications of an "unrenovated" basement?
This means the basement space is in a rough, unfinished state. It offers a blank canvas but will require significant investment for insulation, framing, flooring, and finishing to become comfortable living space. It's a project that adds future value but also upfront cost.

5. How does the lot size affect living here?
At 2,320 sqft, the lot is smaller than the Winnipeg average but typical for the central neighbourhood. It provides manageable outdoor space for a small garden or patio with less maintenance than a larger yard, suiting a low-maintenance lifestyle.