Property Overview: 384 Inglewood Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in King Edward presents a straightforward opportunity centered on value and potential. Its key appeal lies in its balance of a modest, renovated living space on a relatively generous lot. With 630 sqft of living area, the house itself is compact—ranking below average in size for the street, neighborhood, and city. This positions it as an efficient, low-maintenance footprint.
However, the property holds less obvious strengths. Its 3,820 sqft lot size is above average for Inglewood Street, offering valuable outdoor space and future potential in a city where land is at a premium. The assessed value is consistent with the local area, suggesting a fair entry point into the market. The renovated basement adds functional living space. Built in 1918, it carries the character and construction of its era, which may appeal to those not seeking a modern build.
This property would best suit first-time buyers, downsizers, or practical investors looking for an affordable entry into the Winnipeg market. It’s for someone who prioritizes the value of the land and location over the size of the house, and who is comfortable with a home that requires ongoing updates consistent with its age. It is not suited for those seeking ample interior space or a turn-key modern property.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 630 sqft above ground, it is significantly smaller than the Winnipeg average. The renovated basement provides additional space, but the layout and efficiency of the main floor will be crucial for daily living.
2. What does the "renovated basement" include?
The listing notes a renovated basement but does not specify the finish, rooms, or ceiling height. This should be verified in person to understand its quality and whether it is a legal suite or simply improved storage/living space.
3. How does the assessed value relate to the likely selling price?
The assessed value is for taxation purposes and is often lower than market value. The last known sale was between $22.5k-$25.5k in 2018. A current market evaluation is essential, as prices have likely shifted.
4. What are the implications of a 1918 build?
While offering charm, a home of this age will likely have older systems (plumbing, wiring, foundation). A thorough inspection is non-negotiable to budget for necessary updates and understand the home’s true condition.
5. What is the real value of the larger lot?
The lot is larger than others on the street. This provides more private outdoor space and could be a long-term asset for expansion (subject to zoning) or simply as a rarity in the area. It’s a key feature that may offset the smaller house size for the right buyer.