Property Overview: 226 King Edward Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1912, situated on a standard-sized lot in the King Edward neighbourhood. Its primary appeal lies in its position as an accessible entry point into the Winnipeg housing market. With a living area of 687 sq ft, an unrenovated basement, and no garage, it is a straightforward property that presents a clear, lower-cost opportunity.
The home suits specific buyer profiles well. It is a potential fit for a first-time buyer or an investor seeking a modestly priced asset with minimal initial financial outlay, as evidenced by its significantly below-average assessed value. The lot size is fairly typical for the area, offering standard outdoor space without extensive maintenance demands. A less obvious perspective is that a home of this vintage and scale offers a manageable canvas for someone interested in a gradual, DIY-friendly renovation project, allowing for personalization without the pressure of a large mortgage. However, its below-average rankings for size, value, and age within its immediate area indicate it is a more basic offering in the local context, appealing to those prioritizing budget and location over modern features or space.
Frequently Asked Questions
1. What is the actual selling price?
The provided data shows a sold price range from January 2020. To obtain the exact historical sold price, you can request it via email from the listing source, as this information is verified manually.
2. What does "below average" ranking mean for the assessed value?
The home's assessed value is consistently below the average for similar properties on its street, in the King Edward area, and citywide. This typically indicates a lower property tax assessment, but it also reflects the home's modest size, age, and condition relative to others.
3. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should anticipate an unfinished space that may require work to be fully functional or compliant with current standards.
4. How does the lot size compare?
At 3,593 sq ft, the lot is around the average size for the King Edward neighbourhood but is below the citywide average. It provides a standard urban yard space.
5. What are the implications of the 1912 build date?
As a 114-year-old home, prospective buyers should budget for potential updates to core systems like wiring, plumbing, and insulation. Its age and below-average ranking in this category suggest it has not been extensively modernized, which is factored into its pricing and appeal.