Property Overview: 294 Brooklyn Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1913, presenting a straightforward opportunity in Winnipeg's King Edward neighbourhood. Its key appeal lies in its position as an accessible entry point into the market. With 720 sqft of living space and an unrenovated basement, the house is modest in scope but sits on a reasonably sized lot (2,398 sqft) for its street. The assessed value is notably low, which typically translates to lower property taxes—a significant ongoing cost saving.
The property suits buyers looking for a functional starter home or a long-term hold for renovation over time. Its smaller size and lower maintenance footprint could also appeal to downsizers seeking simplicity. A less obvious perspective is its potential as a "blank canvas" property; its below-average metrics in size and value for the area mean future improvements are more likely to add proportional value. The data suggests it’s a quintessential "value play" in a city where average home sizes and prices are much higher, offering a chance to build equity through updates rather than paying a premium for a turn-key home.
Frequently Asked Questions
1. What does the assessed value indicate?
The home's assessed value is significantly below city and area averages. This generally results in lower annual property taxes, which is a key financial consideration. It also reflects the home's modest size and unrenovated condition relative to the broader market.
2. How does the lot size compare?
At 2,398 sqft, the lot is near the average for Brooklyn Street itself but is below average for the wider King Edward area and the city. This means outdoor space is reasonable for the immediate location but not expansive.
3. What is implied by the home's rankings?
The rankings show the home is below average in living area, value, and year built compared to most peers locally and citywide. This statistically confirms it as a smaller, older, and more budget-conscious option in the market.
4. Is the basement usable?
The listing notes a basement exists but that it is "not renovated." Buyers should budget for potential updates to make this space fully functional and should anticipate a standard inspection for moisture and foundation integrity common in century-old homes.
5. Who might this property not suit?
It may not suit buyers looking for move-in-ready condition, modern finishes, or ample space for a growing family. The need for eventual updates and its compact layout require a buyer comfortable with a project or a very modest lifestyle.