Property Summary: 217 Brooklyn Street, Winnipeg
Key Characteristics & Appeal
This one-storey home in King Edward presents a practical opportunity in a mature neighbourhood. Its key appeal lies in being a well-sized, above-average offering on its own street. With 1,018 sqft of living space and a renovated basement, it provides more room than many immediate comparables. The lot is a notable asset, at 3,443 sqft, which is larger than most on Brooklyn Street, offering valuable outdoor space or future potential in an area where land is at a premium.
The home’s assessed value consistently ranks above the local street average, suggesting it is viewed as a solid asset within its specific micro-market. Recent sold price data indicates a significant increase in value over the past few years. Built in 1914, it carries the character and construction of its era, which appeals to those not seeking a modern suburban build.
This property would suit a first-time buyer or practical investor looking for a foothold in a central Winnipeg neighbourhood without the premium of a new home. It’s for someone who values a larger lot and more interior space relative to the immediate area, and who is comfortable with the upkeep of a century-old home. The lack of a garage and the home’s age mean it’s best suited for a buyer with a hands-on mindset or a renovation budget.
Frequently Asked Questions
1. How does this home’s value compare to the rest of Winnipeg?
While it ranks above average for its street and neighbourhood in key metrics, citywide comparisons show it’s a more modest property. The living area and assessed value are below the Winnipeg average, reflecting its older, central neighbourhood setting versus newer suburban developments.
2. What does the sold price history indicate?
The home sold in late 2023 and again in early 2024, showing a considerable increase in that short period. This could indicate active investor interest, specific renovations, or a rapidly shifting local market, and warrants investigation into the reasons for the quick turnover.
3. Is the large lot a major advantage?
Potentially, yes. In an older neighbourhood where lots are often smaller, having a plot that’s in the top 22% on the street provides more privacy, yard space, and future options than many neighbours have. This is a key differentiator.
4. What are the implications of the home’s age (1914)?
The age means potential for character but also necessitates a thorough inspection for foundational, electrical, and plumbing updates. While the basement is noted as renovated, the main structure is over a century old.
5. Why is the citywide average assessed value comparison so different ($390k vs. this home’s $28.30k)?
This large discrepancy is likely due to a difference in what is being measured. The citywide "comparable homes" average of $390k may include vastly different property types or sizes. The more relevant comparisons are the local street ($23.50k avg) and neighbourhood ($25.80k avg) figures, where this home sits above average.