217 King Edward Street

Property Overview: 217 King Edward Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1910, presents a classic character home opportunity in Winnipeg's King Edward neighbourhood. Its key appeal lies in its balance of historic charm and practical updates, notably a renovated basement. With 1,113 sqft of living space, it offers above-average roominess for both its immediate street and the broader King Edward area.

The home’s assessed value is notably modest compared to the Winnipeg city-wide average, which may indicate a lower property tax burden and an accessible entry point into the market. The lot size of 2,838 sqft is manageable, suiting those who prefer less yard maintenance. Its century-old heritage means potential for original features, but also calls for a buyer comfortable with the upkeep of an older structure.

This property would best suit a first-time homebuyer, an investor, or a downsizer looking for a character-filled home without a massive footprint or tax bill. It’s for someone who values location and charm over modern size standards and is prepared for the realities of a 116-year-old house. A thoughtful perspective here is viewing the lower assessed value not just as a discount, but as a reflection of a more predictable and potentially stable tax base, insulating the owner from sharper city-wide valuation swings.

Section 2: Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a traditional architectural style where the second floor has slightly less full headroom than a standard two-storey home, often featuring sloped ceilings or dormer windows. It adds character but can affect furniture placement and perceived space on the upper level.

2. Why is the assessed value so much lower than the city-wide average?
Property assessments are based on a mass appraisal system considering location, home type, size, and condition. This home’s age, smaller lot size, and neighbourhood comparables result in a lower assessed value, which generally correlates with lower property taxes.

3. What are the implications of the home being built in 1910?
While offering charm, a home of this age likely has older building materials and systems. A thorough inspection is crucial to understand the condition of the foundation, wiring, plumbing, and insulation. The renovated basement is a positive update.

4. How does the living area compare to nearby homes?
The living area is actually above average for the King Edward neighbourhood. This means you get more interior space than many nearby properties, which is a distinct advantage for an older home.

5. Can I get the exact historical sale price?
The listed sale price ranges are based on public data. The exact sale price from March 2022 is available by request via email from the listing source, as they manually verify and provide this detail to interested parties.