Property Overview: 284 Collegiate Street, Winnipeg
Key Characteristics & Appeal
This 826 sqft one-storey home, built in 1918, presents a practical and affordable entry point into Winnipeg’s King Edward neighbourhood. Its key appeal lies in its balance of a renovated basement and a manageable size, situated on a modest 2,708 sqft lot. The home’s assessed value of $250k positions it as an average-priced property within its immediate area and street, but notably below the city-wide average, suggesting relative value within its established community.
The property would suit first-time buyers or downsizers seeking a lower-maintenance, single-level layout without a major renovation project, thanks to the updated basement. It also appeals to value-focused investors or buyers who prioritize location and character over square footage, as it offers a classic Winnipeg streetscape experience. A less obvious perspective is that its smaller lot and average-in-area valuation could represent a lower barrier to entry for land value in the future, while the home’s age and solid ranking among local peers indicate a well-integrated property in a neighbourhood of similar vintage.
Frequently Asked Questions
1. How does this home’s size compare to others?
At 826 sqft, the living area is fairly typical for older homes on Collegiate Street and in the King Edward area, ranking around the average. It is, however, notably smaller than the average Winnipeg home.
2. Is the assessed value a good indicator of the likely selling price?
The $250k assessment is a municipal valuation for tax purposes. Recent nearby sales data suggests homes in this range sold in the $230k-$260k bracket, but market conditions and the home’s specific condition will determine the final price.
3. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify the scope. This should be a key point of inquiry to understand if it’s a finished living space, updated utilities, or both, and whether permits were obtained.
4. With no garage, what are the parking options?
The property has no garage. Buyers should verify on-site parking availability, such as a driveway or rear lane access, and review any street parking regulations.
5. The home is over 100 years old. What should I be concerned about?
While the renovated basement is a plus, a home from 1918 will require diligent inspection. Focus should be on the foundation, original plumbing and electrical systems, insulation, and the roof. Its average ranking for age on the street indicates many neighbours face similar maintenance considerations.