Property Overview: 366 Queen Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1906, presents a classic Winnipeg character property with a standout feature: an exceptionally large lot. At over 7,700 square feet, the land size is in the top 5% for its street and top 1% for the broader King Edward area, offering rare urban space for gardens, expansion, or simply enjoying a generous backyard.
The 865 sqft living area is modest and typical for the immediate neighborhood, and the home includes a basement and a detached garage. Its assessed value is in line with nearby properties, but the home’s age and unrenovated basement indicate it is likely a candidate for updates. The appeal here is fundamentally in the land and location. It suits a buyer looking for a character home with significant outdoor space in a central neighborhood, whether that’s a hands-on renovator, a gardener, or an investor who sees long-term value in a large, central lot. It’s a property where the true potential lies beneath the surface and in the expansive yard, rather than in its current finishes.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually means the basement is in original or functional condition, but may lack modern finishes, an updated layout, or moisture-proofing. It should be inspected to understand its potential for conversion or necessary repairs.
2. How significant is the large lot size for this area?
Very. A lot of this scale is uncommon in established central neighborhoods. It provides privacy, space for outdoor activities, and future possibilities like an addition, garage/workshop, or landscaping projects that wouldn't be feasible on a standard city lot.
3. The home is older—what should I prioritize in an inspection?
Given its age, an inspection should thoroughly examine the foundation, roof structure, electrical and plumbing systems (which may be original or partially updated), and insulation. Understanding the condition of these core elements is more critical than cosmetic issues.
4. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is often lower than market value. Recent sale prices on the street can be a better guide, but market conditions, the property's unique lot size, and its condition will ultimately determine the selling price.
5. Is the detached garage a standard size, and what condition is it in?
The listing confirms a detached garage but does not specify its dimensions or condition. This would be an important point to clarify, as older garages may need repairs, have limited height for modern vehicles, or offer exciting potential as a studio or workshop space.