Property Overview: 246 Amherst Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in King Edward, built in 1929, presents a compelling mix of space, location, and value. Its primary appeal lies in its generous proportions relative to its immediate area. With 1,547 sqft of living space, it ranks in the top 4% of homes on Amherst Street for size, offering significantly more room than the local average. The lot is also notably larger than most in the King Edward neighbourhood, providing ample outdoor space. A key modern update is the renovated basement, adding functional living area. The home features a detached garage.
Its assessed value is notably below the citywide average, which may indicate an opportunity for value-conscious buyers. The property suits those looking for a character home with above-average interior and land space in a central neighbourhood, without the premium price tag of newer builds. It would particularly appeal to buyers who prioritize space over a modern build date, and who see potential in a home that has already seen some updates, like the basement.
Frequently Asked Questions
1. Is the assessed value an accurate reflection of the market price?
Not necessarily. The assessed value for this property is below both the city average and its most recent sold price range (approximately $315k-$345k in mid-2024). Assessments are for tax purposes; market value is determined by recent sales, condition, and demand.
2. What does the "Elite" ranking for living area mean?
It means that compared to other homes directly on Amherst Street, this house is in the top 4% for its interior square footage. You are getting a much larger home than is typical for this specific street.
3. Given its age (built 1929), what should I be mindful of?
While the basement has been renovated, a home of this age may have older building materials and systems (like plumbing, wiring, or the roof) that require inspection. Its character is a plus, but potential maintenance or upgrade costs should be factored in.
4. How does the lot size compare?
The lot is 4,694 sqft, which is above average for the King Edward neighbourhood. This is a significant advantage, offering more private outdoor space than many nearby properties.
5. Who are the likely competing buyers for this home?
Given its space, value-oriented price point, and established neighbourhood, it would attract first-time buyers needing room to grow, investors looking for a character property with rental potential, or downsizers seeking a single-family home with a manageable lot.