Property Overview: 325 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a standard city lot in the King Edward neighbourhood. Its key characteristics are defined by its modest scale and value. With 680 sqft of living space, it is notably smaller than most homes in the area and across Winnipeg. The basement exists but is not renovated, there is no garage, and the home has a very low municipal assessed value.
The primary appeal lies in its position as one of the most accessible entry points into homeownership in the city. It suits buyers with a limited budget who prioritize a foothold in the market over square footage, such as first-time buyers, investors looking for a straightforward rental property, or those seeking a minimal-maintenance base. A less obvious perspective is its potential for someone interested in a "blank slate" project; the low initial investment could allow for a tailored, gradual renovation. However, its significantly below-average size and value mean it is not suited for those needing space or expecting immediate equity from a typical, move-in ready home.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's relatively small size, age, and lack of renovations compared to the broader Winnipeg market, which includes many larger, newer, and updated properties.
2. What does "below average" for living area mean in practical terms?
With 680 sqft, the home's living space is significantly less than the typical Winnipeg house (approx. 1,342 sqft). This indicates a very efficient or compact layout, likely with fewer or smaller rooms.
3. Is the unrenovated basement usable?
The listing specifies the basement is "not renovated." It likely has foundational space but is not finished as livable area, meaning it may be suitable only for storage or utilities without further work.
4. How does the property compare to its direct neighbours?
The data shows that on Collegiate Street itself, this home ranks in the bottom tier for both living area and assessed value, meaning it is among the smallest and lowest-valued properties on the block.
5. What can recent nearby sale prices tell me?
Nearby sales of similar vintage homes, like 306 Collegiate and 373 Roseberry Street, show a range of sold and assessed values. This suggests the value of 325 Collegiate is influenced by its specific condition, size, and layout within the context of the older housing stock in King Edward.