Property Overview
This one-and-a-half storey home on King Edward Street presents a straightforward, entry-level opportunity in Winnipeg. Built in 1918, it features 1,031 sqft of living space and a detached garage. The basement exists but is noted as not renovated. The data reveals a property that sits comfortably within the averages for its immediate street and neighborhood in terms of size, value, and age, but trends below Winnipeg-wide averages. Its most defining characteristic is the compact 2,693 sqft lot, which is smaller than most in the area. Recent sale history shows consistent activity, suggesting a steady, affordable niche in the market.
Key Characteristics & Appeal
The primary appeal of this home is its affordability and position as a practical entry point into the King Edward neighborhood. It suits first-time buyers, investors, or downsizers seeking a low-maintenance footprint without a major renovation project—provided the unrenovated basement condition is acceptable. Its living space is typical for the local area, offering a functional layout for a small household.
A more nuanced perspective lies in its lot size. While well below average, this translates to minimal yard upkeep, which could be a significant advantage for those seeking a "lock-and-leave" property or who prioritize interior space over outdoor maintenance. The consistent sales history every few years indicates a property that holds a reliable, if modest, value in its specific market segment without wild fluctuation.
Frequently Asked Questions
1. What does "basement not renovated" typically imply?
It usually means the basement is in original or utilitarian condition, likely with concrete walls and floors, and is suited for storage or basic laundry facilities rather than finished living space.
2. How does the small lot size affect daily living?
It offers very limited private outdoor space, making gardening or large gatherings difficult. However, it significantly reduces yard work and may lower maintenance costs.
3. The assessed value seems very low compared to the city-wide average. Why?
Assessed values are for municipal tax purposes and are often much lower than market value, especially in older neighborhoods. The city-wide average is skewed by newer, larger, and higher-value homes in different areas.
4. Who might this property not suit?
It would not suit buyers needing multiple finished bedrooms, those who desire a large garden or play area, or anyone looking for a move-in-ready home with a modern, developed basement.
5. The home has sold several times recently. Is that a concern?
Not necessarily. The consistent 3-4 year turnover pattern at stable price points suggests it reliably serves as a starter home or a practical investment property, rather than indicating an underlying problem.