Property Overview
This one-storey home on Collegiate Street in Winnipeg's King Edward neighbourhood presents a straightforward, grounded opportunity. Built in 1947, it sits on a notably generous 4,555 sqft lot, which is larger than many in the immediate area. With 984 sqft of living space and a detached garage, it offers the essential components of classic Winnipeg living.
Its primary appeal lies in its positional balance. The data shows the home is consistently "around average" for its street and neighbourhood in terms of size, assessed value, and age, suggesting it's a typical, well-priced entry point into the community. The standout is the lot size, which offers above-average outdoor space and future potential relative to nearby properties. This home would suit a first-time buyer, an investor, or someone looking for a manageable, single-level living space without the premium of a fully renovated or larger home. Its value is in its simplicity and the opportunity it presents on a solid piece of land.
Frequently Asked Questions
1. Is this a small home?
While its 984 sqft living area is below the Winnipeg city average, it is very typical for the King Edward neighbourhood and even slightly above average for Collegiate Street itself. It represents the standard footprint for many classic Winnipeg bungalows.
2. What does the assessed value tell me?
The assessed value is a municipal figure for tax purposes, not a market price. At $22,400, it is significantly below the city average but aligned with the neighbourhood. This often indicates a lower property tax burden, but the final sale price is determined by the market.
3. How does the lot size impact value?
The lot is a key feature at 4,555 sqft, ranking in the top third for the street. This provides more private outdoor space than many neighbours and could be a long-term asset for expansion, gardening, or simply having more breathing room.
4. The home sold in 2016 for a relatively low price. What does that mean?
The historical sale price provides context for the market's past valuation. Given the time elapsed and changes in the market, it primarily serves to show the property's history of being an affordable entry point, not a direct predictor of its current value.
5. Who would this property not suit?
It may not suit buyers seeking a modern, move-in-ready home without any projects, or those requiring extensive living space on one floor. The "around average" metrics suggest a home that is comfortable and functional, but not necessarily standout in terms of finishes or size without further investment.