Property Overview: 266 King Edward Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1912, presenting a straightforward opportunity in Winnipeg’s King Edward neighbourhood. Its primary appeal lies in its accessibility and potential. With a living area of 720 sqft, an unrenovated basement, and no garage, it is a modest property with an assessed value significantly below city-wide averages. The lot size, while smaller than most in the immediate area, is typical for the central neighbourhood.
This home would suit a specific type of buyer: first-time purchasers or investors looking for an entry point into the market with minimal upfront capital. Its below-average costs for taxes and purchase price lower the barrier to entry. It’s not a move-in-ready showhome but a canvas. The appeal is for those who see value in a basic structure and location, willing to undertake renovations over time or comfortable with a simple, utilitarian living space. A less obvious perspective is its potential as a long-term hold in an established neighbourhood, where incremental improvements could align with gradual area revitalization.
Frequently Asked Questions
1. What is the actual selling price?
The most recent recorded sale (March 2024) fell within a range of $16.5k to $19.5k. For the precise, exact sold price, you can request it directly via email from the listing source.
2. What does "below average" in the rankings mean for a buyer?
The metrics show this property ranks in the bottom quartiles for size, value, and lot area compared to nearby and city-wide homes. Practically, this indicates lower property taxes and a purchase price well under the Winnipeg average, but also less space and older infrastructure than typical offerings.
3. What should I know about the basement?
The listing specifies the basement exists but is "not renovated." Buyers should budget for professional inspections to understand the condition of the foundation, plumbing, and electrical systems, and anticipate potential moisture issues common in century-old homes.
4. Is the land size a disadvantage?
At 2,694 sqft, the lot is smaller than many in the area, limiting expansive outdoor space. However, it requires less maintenance and may still allow for a small garden or patio, suiting a low-maintenance lifestyle.
5. Who are the most likely neighbours or comparable buyers?
Given the price point and profile, likely neighbours include long-term residents, other first-time homeowners, and rental property investors. The similar nearby properties with nearly identical assessed values suggest a consistent, stable character for this specific pocket of the street.