280 Queen Street

Property Overview & Key Characteristics

This one-storey home at 280 Queen Street in Winnipeg's King Edward neighbourhood presents a specific, value-oriented opportunity. Its primary appeal lies in the combination of a very large, above-average lot for the area and a notably low assessed value. At just under 684 sqft, the living space is compact and sits below average for the street, neighbourhood, and city. The house itself, built in 1950, is of average age for the area and features a detached garage and an unrenovated basement.

The property’s standout feature is its 5,786 sqft lot, which ranks in the top 7% within King Edward, offering significant outdoor space or future potential relative to nearby homes. This is paired with an assessed value that is well below city-wide averages. The profile suggests a home that is priced for its existing structure, with the land representing a substantial portion of the asset. It last sold in late 2022.

This property would best suit a practical buyer looking for a foothold in the city on a generous lot, such as a first-time homeowner comfortable with a smaller footprint, an investor considering land value or a future rebuild, or someone seeking a lower-cost property with ample outdoor space for gardens or expansion down the line. It is a project-oriented property, ideal for those whose vision extends beyond the current condition of the home.

Frequently Asked Questions

1. Is this a "tear-down" property?
While the home has a low assessed value and compact living area, it is a functional dwelling. The decision to renovate, expand, or rebuild would depend on a buyer's goals and budget, but the large lot size certainly makes future redevelopment a feasible consideration.

2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's current state, size, and characteristics. The below-average living area and the unrenovated condition of the basement contribute to a valuation that is primarily driven by the land value in this instance.

3. What are the real costs beyond the purchase price?
Prospective buyers should budget for updates to a home of this age, which may include mechanical systems, windows, or insulation. The unrenovated basement also presents either a project cost or a negotiation point. Property taxes will, however, benefit from the lower assessment.

4. How does the large lot size benefit me if I don't want to rebuild?
A lot of this size in the city offers rare privacy and space for gardening, recreation, or adding a detached structure like a workshop or large shed. It provides a sense of openness uncommon for the neighbourhood.

5. The sold price history shows a range. How can I get the exact figure?
The exact sold price from November 2022 is not displayed publicly due to data source restrictions. You can request it directly via the email button on the listing page. The service provides the accurate figure manually, typically by the end of the same day, without using your email for marketing.