Property Summary: 271 Parkview Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1912, situated on a standard city lot in the King Edward neighbourhood. Its key characteristic is its affordability, underscored by a notably low municipal assessed value. At 817 square feet, the living space is modest and below average for its immediate street, the neighbourhood, and the city overall. The home has a basement, but it is noted as not being renovated, and the property does not include a garage or pool.
The primary appeal lies in its position as a potential entry point into the Winnipeg housing market. It represents a lower barrier to entry for buyers focused on land value and location over the condition or size of the existing structure. This property would suit a pragmatic, budget-conscious buyer—perhaps a first-time purchaser, an investor looking for a rental opportunity, or someone seeking a minimal footprint. Its value is rooted in the potential of the lot and the opportunity for gradual improvement, rather than in move-in-ready finishes or ample space. A thoughtful perspective is that its age and smaller size could translate to lower utility costs and simpler maintenance compared to larger, newer homes, appealing to those seeking financial simplicity.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific attributes—including its age (1912), smaller living area, and the condition of features like the unrenovated basement. It reflects the home's current market value for taxation purposes within its specific context, not a city-wide average that includes newer, larger homes.
2. What does "below average" for Year Built mean?
This statistical ranking indicates the home is older than most comparable properties. On its own street, it ranks 269th out of 271 homes by year built, meaning it is one of the oldest houses in that grouping. This is a key factor in its character and likely informs maintenance considerations.
3. Is the sold price history from 2017 relevant today?
While it shows historical market activity, real estate values have shifted since 2017. That data point is more useful for understanding long-term ownership history than for determining current market value, which should be established through a contemporary comparative market analysis.
4. What are the implications of having no garage?
Buyers should plan for street parking and consider the practicalities of Winnipeg winters. This can influence insurance costs and daily convenience, but it also means no maintenance for a garage structure.
5. The home is smaller than average. How does the lot size compare?
The land area is approximately 2,710 sqft. While below the city-wide average, it is closer to the average for the King Edward neighbourhood itself. This suggests the lot is fairly typical for the area, offering standard outdoor space for a city home.