Property Overview: 321 Roseberry Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a compact, early-20th century bi-level on a standard-sized lot in the King Edward neighbourhood. Its primary appeal lies in its financial efficiency and potential as a strategic entry point into the Winnipeg market.
The living space, at 680 sqft, is notably smaller than most area homes, positioning it well for first-time buyers, downsizers, or investors seeking a manageable footprint with lower utility and maintenance costs. Despite its modest size, the property holds a strong assessed value relative to its immediate street and neighbourhood, suggesting the lot and location are viewed favorably. A key feature is the renovated basement, which adds functional space to the overall footprint.
This property would best suit a pragmatic buyer whose priorities are location and lot value over interior square footage. It’s ideal for someone comfortable with a cozy layout, who views the home as a solid foundation—whether as a long-term hold in an established area or a potential candidate for future expansion, subject to regulations. It is less suited for those requiring substantial living space or a modern, open-concept layout without significant renovation.
Section 2: Frequently Asked Questions
1. Is the house too small for practical living?
While below average in size, the 680 sqft main floor combined with a renovated basement provides essential living areas. It demands efficient use of space and would suit individuals, couples, or those comfortable with compact, minimalist living.
2. Why is the assessed value relatively high for a small house?
The assessment reflects more than just living area. It accounts for the desirable lot size (over 4,000 sqft), the renovated condition of the basement, and its location within King Edward. The value is driven by the land and the property's overall condition relative to its immediate peers.
3. What are the implications of the home's age (built in 1918)?
The age is typical for the street. It brings character but also means potential for older building materials and systems. A thorough inspection is crucial to understand the condition of the foundation, wiring, and plumbing, and to see how the renovation addressed these elements.
4. How does the detached garage affect the property?
A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or additional storage without impacting the home's layout. However, it requires going outside to access, which is a consideration during Winnipeg winters.
5. The last sale was around $24.5k-$27.5k in 2020. Is the current assessed value of $30.20k accurate?
Assessed value for tax purposes and market value can differ. The increase since 2020 may reflect market trends, the basement renovation, and city-wide assessment changes. For a true market value, consult a local real estate professional and review recent sales of comparable, similarly-sized homes.