Property Overview: 423 Brooklyn Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-and-a-half storey home built in 1918, offering a classic footprint in Winnipeg's King Edward neighbourhood. With 973 square feet of living space, it sits around the average size for its immediate area, though it is notably smaller than the typical Winnipeg home. Its key characteristic is a larger-than-average lot for Brooklyn Street at 3,448 sqft, providing valuable outdoor space in an established community.
The primary appeal lies in its position as an affordable entry point into the market. The assessed value is significantly below the city average, and recent sold price history suggests a very accessible price range. This is not a renovated or modernized property—it features an unrenovated basement and no garage—presenting it as a true blank canvas. It would suit a first-time buyer, an investor looking for a rental property, or a hands-on individual seeking a project. The charm is in the potential: the generous lot offers room for gardening, expansion, or simply more privacy than neighbouring properties, while the historic character provides a foundation to create a personalized home.
Frequently Asked Questions
1. Is the basement finished or usable?
The basement is noted as "not renovated." It is likely a traditional, foundational cellar space that would require significant work to be converted into finished living area.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's smaller size, age, and lack of recent major updates compared to the broader Winnipeg market. It is more in line with averages for the immediate King Edward area.
3. What does the sold price history indicate?
The sold price ranges from 2020 and 2023 show the home has consistently traded at a value well below the city-wide average, confirming its status as an affordable option. The increase between sales suggests steady, modest market movement.
4. What are the implications of the larger lot size?
While the home itself is modest, the lot size is a standout feature on this street. This could provide better outdoor living space, potential for a future addition (subject to zoning), or simply a greater sense of openness than nearby properties.
5. What type of ongoing maintenance should be anticipated?
Given the home's age (108 years), buyers should budget for and anticipate maintenance consistent with a century-old structure. This includes systems like plumbing and electrical, which may need updating, as well as ongoing upkeep of the original building envelope.