Property Overview: 386 Parr Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home on Parr Street is a practical, no-frills property that represents a straightforward entry into homeownership. Built in 1938, it offers 1,104 sqft of living space with a renovated basement and a detached garage. Its key appeal lies in its position as a statistically average home within the Inkster-Faraday neighbourhood—neither the largest nor the newest on the block, but a solid, comparable option. The lot size of 3,397 sqft is notably above average for Parr Street itself, offering more outdoor space than many immediate neighbours.
The home suits first-time buyers or investors looking for a functional property without premium pricing. Its assessed value is significantly below the Winnipeg citywide average, indicating a lower property tax burden and positioning it as an affordable holding. The appeal is grounded in practicality: it’s a home that meets basic needs, with a renovated basement adding modern utility, in a neighbourhood where it sits comfortably among peers. It’s not a standout, but a sensible choice for those prioritizing budget and function over prestige or luxury.
Section 2: Frequently Asked Questions
1. Is this a good value compared to other homes in the area?
Based on the data, this home is very typical for Parr Street and the wider Inkster-Faraday neighbourhood in terms of size, age, and assessed value. Its value proposition is consistency, not outperformance.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This would require a viewing or inquiry to understand the finishes, layout, and whether it includes a legal suite or additional living space.
3. How does the below-average citywide assessed value affect me?
A lower assessed value generally translates to lower municipal property taxes. However, it can also reflect the home’s market position relative to the entire city, not just its neighbourhood.
4. The home sold in April 2022. What might have changed since then?
The sold price range from 2022 provides a historical benchmark, but the current condition, any further updates, and the local market dynamics will have evolved. A current appraisal or market evaluation is essential.
5. Are the nearby listed properties direct comparisons?
The listed nearby properties, like 429 Parr Street, are useful for gauging neighbourhood standards. However, differences in condition, exact layout, and lot specifics mean they are guides, not exact equivalents.