Property Overview: 414 Amherst Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on Amherst Street presents a specific, value-oriented opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in a combination of a generous, above-average lot and a recently renovated basement, contrasted with a modestly sized main living area.
The 676 sqft house is smaller than most in the immediate area and citywide, placing it in the top 82% and 97% for size (meaning 82% and 97% of comparable homes are larger, respectively). However, it sits on a 4,699 sqft lot that is larger than many of its local peers. The assessed value of $270k is around average for the street and neighbourhood but below the citywide average. A key updated feature is the renovated basement, adding functional space. The home is older, built in 1947, but is actually newer than many on its street.
This property would best suit a pragmatic, value-conscious buyer. It's ideal for a first-time homeowner comfortable with a cozy footprint who prioritizes yard space or future expansion potential over immediate square footage. It could also appeal to an investor looking for a character home with a updated basement suite (subject to verification of permits and zoning), or a downsizer seeking a manageable property without sacrificing outdoor space.
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, secondary suite. This is a crucial point to investigate with the seller and the city for zoning and permit compliance, which affects value, insurance, and utility costs.
2. How does the smaller living area impact value?
The home's living area is below average for the area. This typically positions it as a more affordable entry point into the neighbourhood, but may also influence long-term resale appeal compared to larger homes on the street. The renovated basement helps offset this.
3. What is the significance of the lot size?
The lot is larger than many in King Edward. This is a standout feature that offers valuable outdoor space, potential for gardening, additions, or a detached structure (like a garage or studio), subject to city bylaws.
4. Why is the assessed value ($270k) different from the past sold prices shown (~$23k-$29k)?
The past sold price figures appear to be incomplete data fragments (likely representing only a portion of the transaction). The current assessed value is the city's estimate for taxation purposes and is a more reliable, contemporary benchmark for the property's market value.
5. What are the implications of the home's age (1947)?
While well-maintained, a home of this age will likely have older building components. A thorough inspection is essential to understand the condition of major systems like wiring, plumbing, and the foundation, and to budget for potential updates.