Property Overview: 271 Inglewood Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1914, offering 867 square feet of living space on a 2,523 sqft lot in the King Edward neighbourhood. Its key appeal lies in its position as a straightforward, entry-level property within a mature community. The home presents a practical opportunity rather than a turn-key solution, noted by its unrenovated basement and lack of a garage.
Statistically, the property holds its own within its immediate locale. Its living area, assessed value, and lot size are all around average for Inglewood Street itself, suggesting it fits the scale and character of the block. However, when viewed against the wider city, it sits below average in size and value, highlighting its role as an affordable option in Winnipeg’s market.
This home would suit a first-time buyer comfortable with a project, an investor looking for a rental property with foundational equity, or someone seeking a modest, low-maintenance footprint in a central location. Its value is rooted in its lot and location, offering a canvas for future updates rather than immediate luxury. A thoughtful perspective is that its very ordinariness on the street is a strength—it’s not an outlier in price or condition, which can provide stability and a clear understanding of the neighbourhood’s value.
Frequently Asked Questions
1. What does "basement not renovated" typically imply?
It usually indicates the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates and anticipate a professional inspection to assess foundational and mechanical systems common in homes of this era.
2. How does the assessed value relate to the likely selling price?
The assessed value (approximately $20,700) is for municipal tax purposes and is often significantly lower than market value. Recent sale histories on the street, ranging from roughly $15,500 to $22,500 in recent years, are more relevant indicators.
3. What are the practical implications of having no garage?
Parking will be on-street. This is common for the area, but it’s wise to observe parking availability at different times. It also means all storage and utility space must be accommodated within the house or a shed.
4. The home is older—what should I prioritize in an inspection?
Given its age (112 years), focus on the integrity of the foundation, the roof, the electrical and plumbing systems, and energy efficiency. These are where unforeseen costs in older homes often arise.
5. How does this property compare to others in King Edward?
It is a smaller, more vintage option in the neighbourhood. While its specs are below the area average, this is reflected in its value. It offers access to the community at a lower price point than newer or renovated homes nearby, like the comparables listed from Collegiate Street.