Property Overview
This one-storey home at 413 Queen Street in Winnipeg's King Edward neighbourhood presents a straightforward, no-frills opportunity. Built in 1913, the 924 sqft house sits on a 3,821 sqft lot and features a basement that has not been renovated. There is no garage or pool. The home's assessed value is notably below average for the city, and its recent sale history indicates it is a lower-priced entry point into the market.
Key Characteristics & Appeal
The primary appeal of this property is its position as an accessible entry into homeownership or a potential investment project. Its assessed value and recent sold price are significantly below city averages, making it one of the more affordable options available. The lot size is generous for the King Edward area, offering valuable outdoor space or future potential in a central location.
The home would suit a practical, hands-on buyer. This includes first-time purchasers comfortable with a property that requires updates, or an investor looking for a rental property with a low initial cost basis. Its classic one-storey layout may also appeal to those seeking single-level living. A less obvious perspective is that its below-average metrics across the board (size, assessed value, year built) for the city actually insulate a buyer from paying a premium for neighbourhood trends, offering a pure value play on the land and location.
Frequently Asked Questions
1. What does the ranking data (e.g., "Top 54%") actually mean?
This means the property outperforms that percentage of comparable homes for that specific metric. For example, its living area is larger than 54% of similar homes on Queen Street, but its assessed value is higher than only 25% of homes city-wide (ranked "Top 75%" means it outperforms 75%, so a lower value is actually a higher rank for this metric).
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the city's valuation for tax purposes, heavily influenced by the home's age, condition, size, and lack of recent renovations. It indicates this is an unrenovated character home, not a modernized property.
3. What is the potential here for a buyer?
The potential lies in the combination of a large, central lot and a structure that allows for gradual renovation or eventual redevelopment. The value is in the land and location more than the current building.
4. Are the nearby sold prices for similar houses?
The listed nearby properties (e.g., 411 Queen Street) are for geographic reference only. The "Similar Assessed Value" list shows properties with an identical municipal assessment, which are often condos or apartments, highlighting how uniquely low the assessed value is for a single-family house.
5. How recent is the sale price information?
The home sold in March 2025. The provided price is a range based on public data; the exact sale price can be requested directly from the site, which manually verifies and provides the figure.