6-290 Beverley Street

Property Overview

This property at 6-290 Beverley Street in Winnipeg’s St. Matthews neighbourhood is a compact, century-old residence with a notably low municipal assessment. Its key appeal lies in its position as an entry-point property in a central, established area. The home is small at 719 sq ft, ranking it among the smaller homes locally, and it lacks a basement, garage, or pool. Built in 1914, it is older than most homes in Winnipeg but is actually newer than many on its own street. The extremely low assessed value places it in the bottom tier city-wide, indicating it is likely a candidate for significant renovation or a straightforward, minimal-holding-cost investment.

It would suit a very specific buyer: an investor or handy first-time purchaser looking for a low-cost entry into the market, who is prepared for a potential rebuild or extensive modernization. Its value is primarily in the land and location within a mature neighbourhood, rather than in its current structure. A thoughtful perspective is that this property isn't competing with turn-key homes; it offers a blank slate at a basement price, but requires a vision and budget to unlock its potential.

Frequently Asked Questions

1. Why is the assessed value so low compared to nearby properties?
The assessed value is typically based on the property's current state and market value. A value this low, especially when nearby comparable properties are assessed significantly higher, strongly suggests the structure itself adds minimal value, likely due to its small size, age, and potentially needing major repairs or being considered a tear-down.

2. What does "No Basement" mean for this property?
It means the home is built on a slab or crawl space foundation. This can limit storage and mechanical system options, and may also influence insulation and floor warmth. It's a less common feature in Winnipeg homes of this era and is a key practical consideration.

3. The listing shows many units at the same address (A-290, B-290, etc.). What is this?
This indicates the property is likely part of a small condominium or strata plan, or a subdivided multi-unit building. It's crucial to determine if the title is freehold or condominium, as this affects ownership rules, monthly fees (if any), and responsibility for exterior maintenance and repairs.

4. Who would this property be most suitable for?
It's best suited for an investor, developer, or a very hands-on buyer. It's a project property. The low entry cost is appealing, but it requires a buyer who has the means and intention to renovate extensively, hold it as a basic rental, or redevelop the lot, rather than someone seeking a move-in-ready home.

5. The "year built" rank seems contradictory. Can you explain?
The data shows the home is newer than 85% of houses on its specific street (ranking 48 out of 320, where a lower rank number is better). However, city-wide, it's older than 90% of Winnipeg homes. This tells you Beverley Street and St. Matthews are filled with historic, character homes, making this 1914 house a relatively newer build on a block of very old houses.