Property Overview: 395 Inglewood Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in King Edward presents a practical opportunity, particularly for its generous lot size. Built in 1948, the 1,050 sqft living space is above average for both the immediate street and the neighbourhood. Its standout feature is the 4,744 sqft land area, which ranks in the top 14% on Inglewood Street, offering significant outdoor space uncommon for the area. The home has a basement but it is not renovated, there is no pool or garage, indicating a property that is functional but may require updates.
The appeal lies in its solid positioning within a mature community. It’s a home that outperforms many local comparables in terms of living space and land, while carrying an assessed value that is around the neighbourhood average. This creates a scenario where you’re getting more physical property—both indoors and out—for a typical King Edward price point. It would suit a buyer looking for a starter home or a long-term hold with room to grow outdoors, who is comfortable with a home of this era and the potential for future renovations. The recent sale in 2023 suggests it has been a viable and marketable property in the current climate.
Frequently Asked Questions
1. What does "above average for the street/neighbourhood" actually mean for living space?
It means that compared to similar homes directly on Inglewood Street, this house's living area is larger than about 73% of them. In the broader King Edward neighbourhood, it's also larger than roughly 73% of comparable properties. You're getting more interior space than most direct competitors.
2. The assessed value is $260k, but recent sold prices are shown as ranges like "$26.50k ~ $29.50k". Why is there such a large discrepancy?
This is a common point of confusion. The sold price ranges shown (e.g., 26.50k) are almost certainly missing a digit and should likely read in the hundreds of thousands (e.g., $265,000 - $295,000), which would align with the $260k assessment. Always verify exact sold prices through official channels or by requesting the detailed history.
3. How significant is the large lot size?
Very significant for the location. The lot is over 4,700 sqft, which is substantially larger than the average lot on the street (approx. 3,278 sqft). This offers rare potential for gardening, expansion, adding a garage, or simply enjoying more private outdoor space than most neighbours.
4. What should I expect with an unrenovated basement in a 1948 home?
You should anticipate a functional but dated space. It likely has lower ceilings, older finishes, and may have moisture control or insulation that doesn't meet modern standards. It represents both a cost to update and an opportunity to add value and tailored living space.
5. The home sold recently in 2023. What does that indicate?
A sale just two years prior suggests the current market considers the property viable. It can also indicate a quick turnaround, which might be due to an investor flipping it, an owner's changed circumstances, or potentially undisclosed issues. It’s a flag to inquire about the reasons for the short ownership period and to ensure all work done since 2023 was permitted.