362 Amherst Street

Property Overview: 362 Amherst Street, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home on Amherst Street in the King Edward neighbourhood presents a solid, no-frills opportunity. Built in 1946, it offers 1,147 sqft of living space, which is notably above average for both the immediate street and the broader neighbourhood. The property sits on a 4,695 sqft lot, providing generous outdoor space that is well above the local area average. Key features include a detached garage and a basement, which is noted as being unrenovated.

The primary appeal lies in its strong positioning within its immediate community. The living area is in the top 17% of homes on Amherst Street, meaning it offers more interior space than most comparable houses nearby. Similarly, the lot size ranks in the top 26% within King Edward, a significant advantage for gardening, play, or future expansion. This creates a property that feels spacious and established for its locale. The assessed value is consistent with area averages, suggesting a fair market entry point.

This home would suit a practical buyer looking for a character home with room to grow, either inside or out, in a mature neighbourhood. It’s ideal for someone comfortable with a property that may require updates over time, starting with the basement. It represents a chance to own a home that is physically larger and on a bigger lot than most in the area, offering value through space rather than modern finishes.

Frequently Asked Questions

1. How does this home’s size compare to others in Winnipeg?
While the living space is above average for its specific street and neighbourhood, it is around the city-wide average. The real advantage is local: you get more house and a larger lot than most properties directly around it.

2. What does the "unrenovated basement" typically imply?
This usually indicates the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates, but it also presents a blank canvas to finish according to personal needs without paying a premium for someone else’s renovation.

3. The assessed value seems low compared to the city-wide average. Why?
The city-wide average includes newer homes and more expensive neighbourhoods. The assessment here is very much in line with the King Edward area, indicating the property is priced appropriately for its location, not undervalued.

4. Is a home from 1946 a concern?
The year built is actually above average for Amherst Street, meaning it’s newer than many homes on the block. As with any older home, a thorough inspection is key to understand the condition of major systems like roof, wiring, and plumbing.

5. What is the significance of the lot size ranking so high in the neighbourhood?
A lot size in the top 26% for King Edward is a standout feature. It offers more privacy, yard space, and potential than is typical, which can be a long-term advantage for enjoyment and property value relative to nearby homes.