Property Overview: 343 King Edward Street
Key Characteristics & Appeal
This is a modern, two-storey home built in 2023, offering a rare combination of new construction in an established Winnipeg neighbourhood. Its primary appeal lies in its significant size and premium valuation relative to its immediate area. With 1,662 sqft of living space, it ranks in the top 2% of homes on its street for size, and its assessed value places it in the top 1% locally, indicating a property that stands out for its scale and perceived worth.
The home features a renovated basement, adding to its functional space. It sits on a standard city lot for the King Edward area, though its land area is more modest compared to the wider city average. There is no garage or pool.
This property would ideally suit buyers looking for a move-in-ready, contemporary home without the wait or uncertainties of a new build. It appeals to those who value modern layouts and systems but want to be part of a mature neighbourhood. The data suggests it’s particularly well-suited for buyers who prioritize interior space and modern amenities over a large yard, and for those who see value in owning a property that is a statistical standout in its community.
Frequently Asked Questions
1. Why is the assessed value so high compared to neighbouring homes?
The assessed value reflects the property's new construction (2023), its above-average living area, and the renovated basement. It is evaluated as a premium, modern asset within a neighbourhood of mostly older homes.
2. What does the ranking data actually tell me?
The rankings show how this property compares to others. For example, being in the "top 1%" for assessed value on the street means it is valued higher than 99% of comparable local homes. This can indicate a premium property for the area, but also means property taxes will be commensurately higher.
3. Is the lack of a garage a significant drawback?
This depends on your lifestyle. For some buyers, the trade-off for a newer, larger home without a garage is acceptable, especially with on-street parking. For others, particularly those with multiple vehicles or a need for workshop space, it could be a limitation worth considering.
4. The last sold price shown is from 2018, but the house was built in 2023. Why?
The 2018 sale likely refers to the vacant land. The current home was constructed after that purchase, meaning the next sale will set a completely new market price for the improved property, which the assessed value attempts to estimate.
5. How does the lot size impact future potential?
The lot is average for King Edward but below the citywide average. This means ample yard space may be limited, and expansion options (like a large addition or garage) could be more constrained than on a larger lot, but it also typically means less exterior maintenance.