Property Overview
This one-and-a-half storey home, built in 1912, presents a unique value proposition in Winnipeg's King Edward neighbourhood. Its key appeal lies in the significant living space it offers relative to its assessed value. With 1,408 sqft of living area, it ranks in the top 3% of homes on its street for size, providing substantially more room than most immediate neighbours. The home sits on a 2,896 sqft lot and features a detached garage. The basement exists but is noted as not renovated.
The property suits practical buyers looking for space over turn-key condition. It's ideal for someone comfortable with a project, whether it's updating the basement or general modernisation, in exchange for acquiring a larger-than-average home in the area at a lower entry point. Its citywide assessed value is notably below average, which can mean lower property taxes, adding to its value-for-space appeal. A thoughtful perspective is that this home represents a specific trade-off: you are purchasing generous interior square footage and historic character, but on a smaller lot and with the understanding that updates will be part of your journey.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
Assessed value for tax purposes is not the same as market value. This assessment reflects a combination of the home's age, the condition of finishes and systems, the smaller lot size, and the general price level of the King Edward area compared to newer or more affluent city neighbourhoods.
2. What does "basement yes, not renovated" typically imply?
This usually indicates a functional but unfinished or dated basement. Expect a concrete floor, exposed foundation walls and joists, and older mechanical systems (like the furnace or water heater). It offers excellent storage or future development potential but will require investment to become a finished living space.
3. The home sold for between $17.5k and $20.5k in 2020. Is that accurate?
The displayed sold price range is based on public data algorithms. For the exact historical sale price, you must request it directly from SaveOnHouse via the provided email button. This step ensures you get a verified figure.
4. Who would this property not suit?
It may not suit buyers seeking a modern, low-maintenance home or those who prioritize a large outdoor yard. The smaller lot and the need for potential updates make it less ideal for those unwilling to take on a project.
5. How significant is it that the living area is in the "top 3%" for the street?
It's a major characteristic. It means this home offers significantly more interior space than almost all other homes on the block. For a buyer needing room, this is a compelling advantage, even if other metrics like lot size or year built are not top-tier.