Property Overview
This is a compact, one-storey home built in 1910, situated on a decent-sized lot in Winnipeg's King Edward neighbourhood. With 672 square feet of living space and an unrenovated basement, it presents as a true fixer-upper or blank canvas. Its assessed value is notably low, even compared to its immediate area, which is reflected in its recent sale price. The appeal here is fundamentally about the land, location, and potential, rather than the current structure. It would suit a hands-on buyer looking for an entry point into homeownership with renovation plans, an investor considering a hold-and-renovate strategy, or someone seeking a minimal footprint with outdoor space. It's not a move-in-ready home and requires a vision for its future.
Key Details & FAQs
- Type: One-Storey House
- Living Area: 672 sqft
- Land Area: 3,880 sqft
- Year Built: 1910
- Basement: Yes, not renovated
- Garage: None
1. What is the true draw of this property?
The primary draws are the lot size and location. The land parcel is larger than many city-wide averages for the area, offering valuable outdoor space or future expansion potential in a central neighbourhood. The very low assessed value and sale price indicate this is a project property where the value must be created through renovation.
2. Who is this home most suitable for?
It's best for buyers with renovation experience, realistic budgets for upgrades, and a tolerance for a project. This could include contractors, DIY enthusiasts, or investors planning a strategic renovation. It's likely less suitable for first-time buyers needing immediate livability or those unable to manage a significant overhaul.
3. How does it compare to others on the street and in the area?
The data shows it is below average for living space, year built, and assessed value compared to its direct neighbours on Queen Street and within the wider King Edward area. This underscores its status as a smaller, older, and undervalued property within its own context.
4. What should I consider about the "unrenovated basement"?
An unrenovated basement in a 1910 home requires a thorough inspection. Considerations include ceiling height, moisture control, foundation integrity, and the state of mechanical systems (like the furnace or electrical). Budgeting for potential foundational or waterproofing work is prudent.
5. The assessed value seems very low. What does that mean?
The low assessment aligns with the home's condition, size, and age. It typically results in lower property taxes, which is a financial positive. However, it also signals that major investments in renovations may not be immediately reflected in the assessed value until the property is significantly improved and reassessed.