Property Overview
This bi-level home at 240 Queen Street in Winnipeg's King Edward neighbourhood presents a distinct mix of modern convenience and traditional neighbourhood character. Built in 2019, it is a notably newer construction in an area predominantly composed of century-old homes. With 908 sqft of living space and an unrenovated basement, it offers a compact, low-maintenance footprint. The property sits on a 3,880 sqft lot, which is typical for the immediate area. Its assessed value is strong relative to its local peers, ranking well above average on its street and in the neighbourhood. The home lacks a garage or pool.
Key Characteristics & Appeal
The primary appeal of this property lies in its modern build within an established, central community. Buyers gain the benefits of newer construction—such as contemporary building standards, systems, and likely lower immediate repair costs—without sacrificing the mature streetscape of King Edward. Its above-average assessment for the area suggests it is viewed as a solid asset within its local market context.
This home would suit first-time buyers or downsizers seeking a manageable, modern property without the upkeep of a heritage home. It also appeals to value-conscious investors or owner-occupants who prioritize functional, newer infrastructure over larger square footage or extensive lot size. A thoughtful perspective is that this property offers a "best of both worlds" scenario: the charm and location of an older neighbourhood with the practical advantages of a new build, though this comes with a living space that is more compact than the Winnipeg city average.
Frequently Asked Questions
1. How does the home’s size compare to others?
At 908 sqft, the living area is very close to the average for both Queen Street and the wider King Edward neighbourhood. However, it is significantly smaller than the average home across Winnipeg.
2. Why is the assessed value higher than many neighbours?
The assessed value ranks in the top 25% on its street, largely due to its modern construction (2019). Newer builds typically have higher assessments than the many century-old homes in the area, reflecting different construction eras and conditions.
3. What does the sold price history indicate?
Records show it last sold in May 2021 for an estimated range between $275,000 and $305,000. This sale price was above the average for the local area at that time, consistent with its status as a newer property.
4. Is the lot size a limitation?
The 3,880 sqft lot is slightly larger than the King Edward average but below the city-wide average. It provides standard outdoor space for the neighbourhood but may not suit those seeking extensive yard space.
5. What are the immediate drawbacks or considerations?
The home has an unrenovated basement and no garage. Buyers should budget for any desired basement development and consider on-street parking. Its compact size is ideal for simpler living but may not fit growing families needing more room.