Property Overview
This one and three-quarter storey home, built in 1918, presents a classic Winnipeg character property with distinct advantages and considerations. Its primary appeal lies in its generous living space relative to its immediate neighbourhood and its position as a value-conscious entry point into the King Edward area. The home features 1,407 sqft of living area, which ranks within the top 4% of homes on Inglewood Street, offering more room than most nearby properties. It sits on a 2,519 sqft lot and includes a detached garage. The basement exists but is noted as not renovated, and there is no pool.
The home’s strongest suit is its space efficiency; you get a notably larger house than area averages for what is a very modest assessed value. This creates an opportunity for buyers seeking character and room to grow without the premium price tag of a fully updated or larger-lot home. It would suit a pragmatic first-time buyer, an investor looking for a rental property with solid fundamentals, or someone content with a smaller yard in exchange for more interior space. A less obvious perspective is that the low assessed value, while indicating affordability, also suggests the property may not have seen significant modern upgrades or expansions, framing it as a canvas for future improvement rather than a move-in-ready showcase.
Frequently Asked Questions
What does "one and three-quarter storey" mean?
This is a common architectural style for homes of this era. It typically means the second floor has full-height ceilings under the roofline in the center of the house, with shorter ceiling heights under the sloping eaves on the sides, often incorporating dormer windows.
Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's value for taxation purposes, which considers factors like location, size, condition, and recent sales. This home's value is below average for the street, neighbourhood, and city, likely reflecting its age, the unrenovated basement, and the smaller lot size compared to broader city standards.
How significant is the living area being in the "top 4%" on the street?
It's a key feature. It means this home offers substantially more interior space than most other homes on Inglewood Street, where the average living area is about 922 sqft. This makes it a standout for buyers prioritizing roominess within this specific location.
Is the unrenovated basement a major concern?
It depends on your plans. It indicates the basement is in original or functional condition but not modernized. This should be factored into your budget for any desired improvements, but it also means there are no poorly executed renovations to undo. A professional inspection is advised to check for foundational or moisture issues common in century-old homes.
What can recent sold prices on the street tell me?
Nearby sales, like 278 Inglewood at $14.60k and 281 Inglewood at $19.20k assessed value, provide context for the market activity and valuation in the immediate area. They suggest a range of values for similar vintage homes, but exact sale prices can vary based on condition, updates, and lot specifics.