Property Overview: 374 Inglewood Street, Winnipeg
Key Characteristics & Appeal
This one-storey home in King Edward presents a compelling blend of space, location, and value. Its key strength lies in its above-average proportions relative to its immediate neighborhood. With 1,303 sqft of living space and a 5,033 sqft lot, it offers more room than most homes on Inglewood Street and within the King Edward area. The basement has been renovated, adding functional space, and the property includes a detached garage.
The appeal is grounded in its strong positional metrics. It ranks in the top 10% of its street for both living area and assessed value, suggesting it's a standout property in a established area. Built in 1964, it is newer than many neighboring homes, which may imply fewer concerns with the aging components common in much older builds. This combination suits buyers looking for a character-home neighborhood but with a preference for more interior and yard space than is typical. It would particularly fit a first-time buyer or downsizer seeking a manageable single-level layout without compromising on room to grow or entertain, all within a context of solid value retention.
Frequently Asked Questions
1. What does the assessed value ranking actually mean?
The home's assessed value is in the top 6% on its street and top 9% in the King Edward area. This generally indicates the municipal assessment—used for calculating property taxes—views it as a higher-value property compared to its local peers, often reflecting its larger size and renovated condition.
2. How does the lot size compare practically?
At over 5,000 sqft, the lot is significantly larger than the area average. This offers greater potential for gardening, outdoor living, or future additions like a shed or deck, providing a sense of openness less common in older core neighborhoods.
3. The home sold in late 2019. What can that price range indicate?
The sold price range from late 2019 provides a historical benchmark. Market conditions have changed since then, but it establishes a previous market value for the home, which can be a useful reference point when compared to its current assessment and similar recent sales.
4. The home is "newer" than neighbors, but it's still 60 years old. What should I consider?
While built in 1964 and newer than many area homes, a property of this age still requires a focus on major aging systems. A thorough inspection should prioritize the roof, plumbing, electrical, and the foundation, as well as the quality and permits for the basement renovation.
5. What are the implications of the detached garage?
A detached garage offers flexibility—it can be used for parking, storage, or as a workshop without concerns about fumes or noise entering the house. However, it may be less convenient during harsh Winnipeg winters compared to an attached garage.