Property Overview
357 King Edward Street is a compact, one-storey home built in 1918, situated on a standard-sized lot in Winnipeg. Its defining characteristic is its exceptionally low assessed value, which places it in the bottom 1-2% of properties citywide. At just over 500 square feet of living space, the house is significantly smaller than most homes in the neighbourhood and the city. It features a basement that has not been renovated and does not include a garage or pool.
Key Characteristics & Appeal
The primary appeal of this property is its position as one of the most affordable entry points into homeownership in Winnipeg. Its very low property taxes, resulting from the minimal assessed value, are a major financial consideration. The lot provides a standard footprint for the area, offering potential for expansion or outdoor space relative to the home's size.
This home would suit a specific type of buyer: a minimalist, an investor looking for a low-cost rental property, or a hands-on individual seeking an ultra-affordable project. It is not suited for those requiring move-in-ready condition, multiple bedrooms, or ample living space. A thoughtful perspective is that this property represents a pure value play on land and location, with the existing structure being largely incidental. It appeals to those who see potential where others see limitation, whether that’s through a total renovation, rebuilding, or simply securing a low-cost base in the city.
Frequently Asked Questions
1. Why is the assessed value so low compared to other homes?
The assessed value is based primarily on the property's market characteristics. The extremely small size (502 sq ft), age, and lack of renovations place its value far below area averages.
2. What would the annual property taxes be?
While an exact figure requires the current mill rate, taxes would be among the lowest in the city due to the $13,700 assessed value. Prospective buyers should confirm with the city for a precise calculation.
3. Is this a tear-down property?
While the existing home is very small and unrenovated, that is a possibility a buyer could explore. However, its "around average" ranking for year built on its street suggests other homes of similar age remain in use. Its future use would depend on buyer intentions, zoning, and renovation budget.
4. How accurate are the sold price ranges shown?
The ranges are based on public data. For the exact historical sold price, you must request it via email. The service provides the precise figure manually at no cost and without marketing spam.
5. What does the ranking (e.g., Top 100%) actually mean?
A "Top 100%" rank means the property is at the very bottom of the comparison group. For example, for living area, it ranks 347th out of 347 homes on its street, indicating it is the smallest. The coloured bars and badges visually show how it performs against peers.