Property Overview: 397 Amherst Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on Amherst Street presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its key appeal lies in a combination of a generous, above-average lot and a recently renovated basement, set against a modestly sized 700 sqft living area. The data reveals a compelling contrast: while the house itself is smaller than most in the city, its assessed value and land size (4,699 sqft) rank well above average for its immediate street and neighbourhood. This suggests the value is anchored more in the land and potential than in the current footprint. The detached garage adds functional utility.
The property would suit a first-time buyer, an investor, or a downsizer looking for a lower-maintenance footprint without sacrificing outdoor space. Its appeal is grounded in fundamentals—a solid lot in an established area, with a modernized basement—rather than luxury finishes. A thoughtful perspective is that this home offers a "blank canvas" quality; its below-average living area for the city might be a limitation for some, but for the right buyer, it represents a chance to build equity through future expansion or to live affordably while holding a valuable piece of land.
Frequently Asked Questions
1. Is the house in good condition?
The listing specifically notes a renovated basement, indicating recent updates in that area. As the home was built in 1946, prospective buyers should budget for a thorough inspection to assess the condition of the main floor systems, roof, and foundation.
2. Why is the assessed value relatively high for a smaller home?
The assessment likely reflects the property’s above-average land size for the neighbourhood and the renovated basement. Value in this case is driven more by the asset (the lot) and modernized components than by total square footage.
3. What is the neighbourhood like?
King Edward is an established, central Winnipeg neighbourhood. The proximity to nearby streets like Rutland Street and the density of similar-era homes suggest a mature, residential community.
4. Can the house be expanded?
Given the significant lot size relative to the home’s footprint, there appears to be physical space for potential additions or expansions, subject to local zoning bylaws and permit approvals.
5. How can I find out the exact historical sale price?
The listed sale range is based on public data. As noted on the detail page, you can request the exact sold price history by emailing the provided service; they manually provide the accurate figure without using your email for unsolicited marketing.