404 Amherst Street

Property Overview: 404 Amherst Street, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1947, situated on a notably generous lot in the King Edward neighbourhood. Its key characteristic is a balance of modest living space (692 sqft) with a larger-than-average land area (4,698 sqft) for its immediate area, offering potential for expansion or outdoor use. The home features a renovated basement, adding functional space. Its appeal lies in its affordability and lot size, presenting an entry point into the market or a land-value opportunity. The assessed value is consistently below the city-wide average, suggesting a lower property tax burden.

It would best suit first-time buyers or practical investors looking for a manageable property with a footprint that allows for future possibilities. The generous lot is a standout asset for someone with gardening ambitions, a need for private outdoor space, or a long-term vision to enlarge the home. It’s a property where the land may hold more inherent value and potential than the current structure.

Frequently Asked Questions

1. How does the size of this home compare to others?
At 692 sqft of living area, this home is smaller than most in Winnipeg, ranking in the bottom 3% city-wide. However, it is more comparable in size to other homes on its own street and within the King Edward neighbourhood.

2. What is the significance of the lot size?
The lot of 4,698 sqft is a key feature. It is larger than approximately 81% of lots on Amherst Street and 76% in the King Edward area, offering more outdoor space than is typical for homes in this price range.

3. What does the assessed value tell me?
The assessed value of $24,800 is below the Winnipeg average. This typically correlates with lower municipal property taxes. It ranks closely with the neighbourhood average, indicating it is priced in line with the local market.

4. Has the property value been stable?
Based on available sold price ranges, the property sold for between $21.5k-$26.5k in 2020 and again for a similar range in 2021, suggesting relative price stability in recent years.

5. What are the less obvious considerations?
While the renovated basement adds value, the main living area is compact, requiring efficient use of space. The home's age (1947) means attention should be paid to the condition of major aging components like the roof and foundation. The large lot is an asset, but it also implies maintenance responsibility.