Property Overview
This one-storey home at 241 Brooklyn Street in Winnipeg's King Edward neighbourhood presents a specific and practical opportunity. Built in 1914, its 719 sqft living area is compact, placing it below average in size for the area. However, it sits on a 3,120 sqft lot, which is notably larger than many of its immediate neighbours. The home features a renovated basement and a detached garage. Its recent sale price and assessed value are significantly below city-wide averages, indicating an accessible entry point into the market.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of a modest, manageable home on a relatively generous lot for the street. It suits a first-time buyer, an investor, or someone looking to downsize into a simple, low-maintenance footprint without sacrificing outdoor space. The renovated basement adds functional living area. Its value is grounded in its land size and location rather than the size or modernity of the house itself. A thoughtful perspective for a buyer would be to see the smaller home as a cost-effective shell, with the larger lot providing long-term options—whether for gardening, expansion, or simply having more breathing room than is typical on the block. It’s a property for those comfortable with a home that requires a practical mindset, not luxury finishes or abundant square footage.
Frequently Asked Questions
1. Is this a "tear-down" property?
While the home is small and older, its renovated basement and recent sale suggest it is livable as-is. Its value, however, is likely weighted more toward its land. Buyers could move in immediately but may view it as a long-term redevelopment opportunity.
2. How does the assessed value compare to the recent sale price?
The assessed value is listed at $19.8k, while it recently sold for between $25.5k and $28.5k. This is not uncommon, as assessed values for tax purposes often differ from market sale prices, especially for unique or older properties.
3. What does the "below average" living area ranking mean for daily life?
At 719 sqft, the living space is compact. It would suit a single person, a couple, or a very small family comfortable with efficient living. The renovated basement is a key feature for adding necessary functional space.
4. Why is the land area considered "above average" for the street?
With a 3,120 sqft lot, it ranks in the top 26% on Brooklyn Street, where the average lot is about 2,828 sqft. This means you get more yard space than most direct neighbours, a notable advantage.
5. What is the neighbourhood like?
King Edward is an established, central Winnipeg neighbourhood. The property's metrics show it is typical for the area in age and value, suggesting a stable, no-frills community character.