Property Overview
382 Collegiate Street is a modern bi-level home built in 2014, offering a renovated basement and a practical, low-maintenance footprint. Its primary appeal lies in its relative newness compared to most housing stock in the King Edward neighbourhood and citywide, suggesting modern building standards and fewer immediate repair concerns. With a living area just under 1,000 sqft, it provides efficient space for individuals, couples, or small families. The home’s assessed value ranks notably above average for its immediate street and neighbourhood, indicating it is viewed as a higher-value property within this local context, though its smaller lot size is a typical trade-off for an inner-city location.
This property would suit first-time buyers or downsizers seeking a move-in-ready home without the upkeep of a century-old property. It’s also a pragmatic choice for investors or owner-occupants who prioritize modern mechanics and a renovated basement over larger square footage or yard space, valuing its strong standing within the local market over its more modest citywide comparisons.
Frequently Asked Questions
1. How does the home’s modern build year (2014) impact ownership?
A 2014 build year typically means newer major systems (like plumbing, electrical, and HVAC), which can translate to lower maintenance costs and better energy efficiency compared to the neighbourhood's predominantly pre-1950 homes.
2. The assessed value seems high for the area. What does that indicate?
The above-average assessment for both Collegiate Street and King Edward suggests the property is officially valued higher than many neighbours, likely due to its newer construction and renovations. This can be positive for equity but may also influence property tax calculations.
3. Who might find the smaller lot size (2,711 sqft) a drawback?
The lot is below the Winnipeg city average. Buyers looking for extensive gardening, outdoor recreation space, or future expansion like a large garage or addition might find it limiting. It's best suited for those who prefer minimal yard maintenance.
4. What is the significance of the sold price history from 2022?
The recorded sale provides a recent market benchmark, showing the home traded in the mid-$300k range three years ago. This is a concrete data point for understanding its price trajectory and current listing context.
5. The living area is described as "around average" for the neighbourhood. What does that mean for daily living?
At 988 sqft, the home offers space comparable to many in King Edward. It’s efficient for daily life but may feel compact for those accustomed to larger, suburban-style homes. The renovated basement effectively adds functional space to the overall footprint.