376 Amherst Street

Property Overview

This two-storey home at 376 Amherst Street is a modern, low-maintenance property in Winnipeg's King Edward neighbourhood. Built in 2024, it offers a move-in-ready experience with a renovated basement. The home’s primary appeal lies in its combination of new construction, above-average interior space, and a surprisingly low property tax assessment. At 1,388 sqft of living area, it ranks in the top tier for size both on its street and within the neighbourhood. The standout characteristic is its assessed value of $47,200, which places it in the elite top 2% for the area, suggesting significantly lower annual property taxes than one might expect for a home of this age and condition. The trade-off is a smaller land footprint (2,348 sqft), which means minimal yard upkeep.

This property is ideally suited for first-time homebuyers, downsizers, or investors seeking a modern, efficient home without the burden of a large yard. It appeals to those who prioritize interior space, new building systems, and predictable monthly costs over outdoor space or extensive gardening. A thoughtful perspective is that this home represents a form of "efficiency" – delivering modern comforts and space in a compact package, with the financial benefit of a low tax assessment locked in for a new build.

Frequently Asked Questions

What does the low assessed value mean for me?
The assessed value of $47,200 is used to calculate your annual property taxes. This figure is exceptionally low for a new home, indicating your tax bill will be substantially lower than on a comparable home with a standard assessment, providing long-term savings.

Is the smaller lot size a major drawback?
It depends on your lifestyle. The lot requires minimal maintenance, which is a plus for those seeking a lock-and-leave property or who dislike yard work. However, it offers limited private outdoor space and no possibility for additions like a large garage.

How does the living space compare to other homes?
At 1,388 sqft, the living area is notably larger than most homes on Amherst Street (top 5%) and in the wider King Edward neighbourhood (top 6%). It provides ample room for a small family or couple relative to the local market.

The home sold recently in 2024. Why is it back on the market?
While the specific reason isn't provided, the recent sale of a brand-new home could be due to a change in the original owner's circumstances, an investor flipping the property, or a builder's initial sale. The nearly new condition remains a key advantage.

What are the implications of having no garage?
Parking will be limited to on-street or a potential driveway, if space allows. This is a common feature in the area but means vehicles are exposed to the elements and you’ll need to consider storage solutions for tools or seasonal items typically kept in a garage.