Property Overview
This one-and-a-half storey home on Parkview Street in Winnipeg's King Edward neighbourhood presents a practical opportunity centred on its land and location. Built in 1947, the 1,025 sqft house sits on a notably large 5,427 sqft lot, which is among the largest on its street. The home's assessed value and living space are fairly typical for the immediate area but sit below the Winnipeg city-wide average, suggesting a value proposition rooted in its specific community rather than sheer size.
Key Characteristics & Appeal
The primary appeal of this property lies in its generous land parcel. The lot size ranks in the top 3% on Parkview Street, offering significant outdoor space and future potential in a mature neighbourhood. This makes it particularly suited for buyers who prioritize yard space over a large interior footprint, such as gardeners, families wanting play space, or long-term holders who see value in the land itself. The house, with a detached garage and no basement, offers a straightforward layout that may appeal to those seeking simplicity or who are comfortable with renovation projects common for homes of this era. Its assessed value is consistent with the King Edward area, positioning it as an accessible entry point into the market. This home would likely suit a first-time buyer, an investor looking for a land-value play, or someone seeking a lower-maintenance property without a basement.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed values are heavily influenced by the local market. In the King Edward area, values are generally lower than the Winnipeg average, reflecting factors like older housing stock and neighbourhood-specific market conditions.
2. What does "no basement" mean for storage and utilities?
The home has a crawlspace or slab foundation instead of a full basement. This means less storage or renovation space below grade, and mechanical systems like the furnace and water heater will be located on the main living level.
3. How does the large lot size affect property taxes or maintenance?
While the large lot is an asset, it may result in slightly higher property taxes compared to neighbours with smaller parcels. It also means more yard to maintain, which could be a consideration for time or budget.
4. Is the living area sufficient for a family?
At just over 1,000 sqft, the living space is modest. It would be a comfortable fit for a small family, a couple, or a single buyer, but may feel cramped for those needing multiple large bedrooms or dedicated office spaces without considering an addition.
5. What is the significance of the home being "around average" for its street in most metrics?
This indicates the property is a typical example of homes on Parkview Street. There's little premium or penalty attached to its size, age, or assessed value compared to direct neighbours, suggesting the price should reflect the norm for the immediate block.