Property Overview: 420 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1913, presents a classic character home with modern practicality. Its key appeal lies in a renovated basement and a living space that feels more spacious than many in its immediate area. At 1,152 sqft, the living area ranks in the top 22% on its own street and the top 18% within the King Edward neighbourhood, offering above-average roominess for the locale. The detached garage adds functional value. While the home’s age and assessed value are typical for this historic, established area, it stands out for offering more interior space on a manageable 2,711 sqft lot.
This property would suit a first-time buyer or a downsizer seeking the charm and mature streetscape of an older Winnipeg neighbourhood like King Edward, but who prioritizes usable living space over a large yard. It’s a pragmatic choice for someone who appreciates character but wants a home that feels open and has seen some updates, like the basement renovation. A thoughtful perspective is that its "average" assessment for the area could represent a stable entry point without the premium of a fully modernized home, leaving room for personalization.
Section 2: Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should confirm its permitted use with the city and their inspector.
2. How does the assessed value compare to the likely asking or market price?
The assessed value is for municipal tax purposes and is typically lower than market value. It indicates the home is in line with area norms, but the sale price will be determined by current market conditions.
3. What are the implications of a 1913 build date?
While offering classic charm, a home of this age will likely have older systems (plumbing, wiring, foundation). A thorough inspection is essential to understand maintenance needs and potential upgrade costs.
4. The lot size seems smaller than the city average. Is that a concern?
The lot is typical for the dense, central King Edward neighbourhood. It offers lower maintenance and fits the community’s character, but may not suit those wanting extensive gardening or large outdoor space.
5. How does the living area compare to nearby homes?
The home’s living area is notably larger than some direct neighbours (as seen with 411 Collegiate St. at 730 sqft), which is a significant advantage in this area. It provides more interior room than many comparable character homes.