Property Overview
This 730 sqft one-storey home on Collegiate Street in Winnipeg's King Edward neighbourhood presents a practical and affordable entry point into homeownership. Built in 1918, its key appeal lies in its renovated basement and detached garage, offering functional space beyond its modest main-floor living area. The lot, while smaller than many in the area at 2,707 sqft, provides manageable outdoor space with less maintenance. Its assessed value is consistently around the average for its immediate street and neighbourhood, suggesting a stable, no-surprises valuation in a well-established community.
This property would suit a first-time buyer, an investor looking for a manageable rental, or someone seeking a low-maintenance, cost-effective living situation. Its smaller scale is a practical match for individuals, couples, or small families who prioritize location and financial efficiency over sheer square footage. A thoughtful perspective for this home is to view its compact size and average valuation not as drawbacks, but as insulation from the premium prices and property taxes commanded by larger, more modern homes in the city, allowing for a simpler and potentially more flexible lifestyle.
Frequently Asked Questions
1. Is the house significantly smaller than others in Winnipeg?
Yes. At 730 sqft of living area, it ranks in the top 95% city-wide, meaning about 95% of homes in Winnipeg are larger. This confirms it's a compact, efficient property.
2. How does its value compare to the neighbourhood?
Its assessed value is very typical for King Edward, ranking almost exactly in the middle (Top 49%). This indicates it's priced in line with area norms, not over or under-valued based on municipal assessment.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the details of the renovation or whether it includes a separate suite. This is a key detail to clarify with the seller or listing agent.
4. Given its age, what should I be concerned about?
Built in 1918, the core systems (like plumbing, electrical, and the foundation) may be older or have undergone updates. A thorough home inspection is essential to understand the condition and any potential upcoming maintenance inherent to a century-old home.
5. How does the lot size impact its potential?
The land area is below average for the street and neighbourhood. This means less yard for gardening or expansion, but also significantly lower maintenance. It limits the possibility of a large addition but may be ideal for those who prefer minimal outdoor upkeep.