406 Amherst Street

Property Overview: 406 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 living space. At 676 sqft, the house itself is compact, ranking below average for size both on its street and city-wide. This is balanced by a land area of nearly 4,700 sqft, which is notably larger than many neighbouring and city lots, offering valuable outdoor space or future potential.

The home suits buyers prioritizing lot size over square footage, such as first-time homeowners comfortable with a cozy layout, downsizers seeking manageable indoor maintenance with room for gardens, or investors looking for a character property with a renovated basement suite potential (subject to verification). Its assessed value is consistent with the immediate area, suggesting a fair market entry point. A thoughtful perspective is that while the living area is small, its 1946 build date is actually newer than many on the block, potentially meaning fewer vintage upkeep issues than older peers. The recent 2023 sale also indicates a modern transaction history.

Frequently Asked Questions

1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify if it is a legal, rentable secondary suite. Buyers must verify this with the city and ensure all renovations have proper permits.

2. How does the small living area impact daily life?
At 676 sqft, the layout will be compact. This emphasizes efficient use of space and likely means fewer rooms. It may not suit those needing dedicated home offices or large family gatherings indoors, but the large lot can extend living space outdoors in warmer months.

3. What does the "above-average" lot size practically offer?
The nearly 4,700 sqft lot provides significant yard space uncommon for homes of this price and area. This allows for gardening, recreation, storage, or future expansion like a shed, deck, or even an addition, subject to zoning.

4. Are there any concerns with an 80-year-old home?
While built in 1946, the home's major systems (roof, wiring, plumbing, foundation) should be carefully inspected. The renovated basement is a plus, but an inspection is crucial to understand the condition of the original structure and updates.

5. Why is the city-wide assessed value comparison so different?
The home's assessed value (~$27k) is around average for its street and neighbourhood, but appears far below the city-wide average because that average includes all property types, like much newer and larger suburban homes. For its specific context in King Edward, the assessment is typical.