Property Overview: 387 Queen Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a classic Winnipeg character property with a practical footprint of 1,072 sqft. It sits on a 3,822 sqft lot in the King Edward neighbourhood, offering a detached garage. The home’s key appeal lies in its position as a genuine entry-point into the market. Its assessed value is notably below averages for the street, area, and city, suggesting a potentially lower purchase price point for a stand-alone house.
The property suits first-time buyers, investors, or handy homeowners looking for a project. Its living space is reasonably sized for the area, and the lot provides typical outdoor space for the neighbourhood. A thoughtful perspective is that this home represents the "bones" of a neighbourhood—a century-old structure that has seen the area evolve. It’s not a renovated showpiece, but a canvas. The appeal is for those who value the opportunity to add their own equity through sweat or investment over time, rather than paying a premium for a finished product. The very low historical sold prices underscore its role as an accessible asset.
Section 2: Frequently Asked Questions
1. What does "below average" assessed value mean for me?
A below-average assessment often correlates with a more accessible purchase price. It can also indicate that the property may require updates or improvements, which is reflected in its official valuation.
2. Is the basement finished?
No. The listing specifies the basement exists but is "not renovated," meaning it is in an unfinished, utility state.
3. How does the lot size compare?
At 3,822 sqft, the lot is slightly larger than the area average but smaller than many on its own street. This offers a decent outdoor space typical for the central neighbourhood, without extensive maintenance demands.
4. The home is 112 years old. What should I consider?
While the structure has proven its durability, a home of this age requires a diligent inspection. Focus on the foundation, roof, wiring, and plumbing. Its historic charm comes with the responsibility of ongoing maintenance and potential updates to meet modern standards.
5. Why are past sold prices shown as a range?
The exact sale prices are not publicly available in Manitoba. The provided ranges are estimates based on publicly accessible data. You can request the precise historical sale figures directly from the listing service.