Property Summary: 220 Inglewood Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1918, is a classic Winnipeg character property situated on a notably generous lot for its King Edward neighbourhood. With 771 sqft of living space, it offers compact and efficient living. Its key appeal lies in its position as a relatively affordable entry point into the market, particularly for the value of its land. The lot size of 3,781 sqft ranks well above the street average, presenting a significant opportunity for gardening, outdoor space, or future expansion—a rare find in this area.
The home suits first-time buyers, downsizers, or investors looking for a straightforward, no-frills property with solid fundamentals. Its assessed value is consistently around the average for both its immediate street and the broader King Edward area, indicating a stable, un-inflated valuation. The basement exists but is unrenovated, and there is no garage, pointing to a property that is livable as-is but holds potential for incremental, value-adding improvements over time. A thoughtful perspective is that this property represents the "bones" of a neighbourhood—a century-old home on a good piece of land, offering a tangible connection to the city's history without the premium of a fully modernized renovation.
Section 2: Frequently Asked Questions
1. How does the property's size compare to others?
At 771 sqft, the living area is below the city-wide average but is fairly typical for older homes in the King Edward area. It’s a compact layout suited to simpler living.
2. What is the significance of the lot size?
The 3,781 sqft lot is a standout feature, ranking in the top 28% on its own street. This is a larger-than-average parcel for the neighbourhood, offering more private outdoor space than many nearby properties.
3. What should I know about the condition based on this summary?
The listing notes a basement that exists but is "not renovated." This, along with the age of the home, suggests buyers should budget for updates and be prepared for a thorough inspection to understand the full scope of any needed maintenance or modernization.
4. How stable is the property's value?
The assessed value is consistently around the average for its immediate vicinity (Inglewood Street) and the King Edward neighbourhood. This can indicate a stable, market-appropriate valuation less prone to dramatic swings compared to areas with more extreme highs and lows.
5. Who might this property not suit?
It may not suit buyers seeking a move-in-ready, modern home with ample finished space and dedicated parking. The lack of a garage, the unrenovated basement, and the smaller living area require a buyer comfortable with a project or a more minimalist lifestyle.