405 Collegiate Street

Property Overview

This one-storey home on Collegiate Street in Winnipeg's King Edward neighbourhood presents a practical opportunity with notable potential. Built in 1922, its key appeal lies in a recently renovated basement and a detached garage, set on a larger-than-average lot for the area. At 973 sqft of living space, it is typical for the immediate street and neighbourhood but sits below the city-wide average, indicating a more compact, efficient layout. The assessed value is consistent with similar homes nearby. The standout feature is the 5,423 sqft land area, which ranks in the top 9% on its street, offering valuable outdoor space and future potential that is rare for the location.

Its appeal is grounded in value and possibility. It suits first-time buyers or practical investors looking for an entry into a central neighbourhood without a premium price tag. The renovated basement adds immediate functional space, while the generous lot is a long-term asset, whether for gardening, expansion, or simply enjoying more privacy than typical infill properties allow. It’s a home for those who see value in land and are comfortable with the character and maintenance considerations of a century-old structure.

Frequently Asked Questions

Is this a small house?
While the living area is average for the King Edward neighbourhood, it is below the Winnipeg city-wide average. The layout is efficient, and the renovated basement significantly adds to the usable space.

What does the "above average" lot size mean practically?
With a lot size ranking in the top 9% on its street, you have significantly more yard space than most neighbours. This allows for larger gardens, recreational space, or future projects like a shed or expanded deck.

The home is over 100 years old. What should I consider?
While the basement has been renovated, a pre-purchase inspection is essential to understand the condition of core systems like plumbing, electrical, and the foundation, which are common focal points in homes of this era.

How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes. The last known sale was in 2020. Market conditions, the home’s updated condition, and its large lot will be the primary drivers of its current market price.

Who are the typical neighbours?
The nearby comparable properties are similarly aged, modest-sized homes, suggesting a stable, established community without the scale or density of newer suburban developments.