Property Overview: 425 Inglewood Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-and-a-half storey home built in 1918, situated on a standard city lot in the King Edward neighbourhood. With 789 square feet of living space and an unfinished basement, it presents as a straightforward, no-frills property. Its key appeal lies in its accessibility and potential. The home has a very low assessed value, positioning it well below average for the street, neighbourhood, and city, which suggests it could be an entry point into the market. It last sold in 2016 for a modest price, further indicating its role as a starter home or investment property.
This house would suit a specific type of buyer: a first-time purchaser comfortable with a project, an investor looking for a rental property with fundamental utilities, or someone seeking the absolute minimum footprint and tax burden. Its smaller size and vintage offer a less common perspective—it’s a home that necessitates a simpler lifestyle without excess space to fill or maintain. The appeal isn't in luxury finishes, but in providing basic shelter and a foothold in a central Winnipeg neighbourhood at a potentially manageable cost.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's specific characteristics—its smaller size, age, and lack of renovations compared to the broader market. It reflects the home's current condition and utility rather than an anomaly.
2. What does "one-and-a-half storey" mean for this house?
Typically, this style features a main floor with living areas and a second floor under sloped roof lines, often creating cozy bedrooms with reduced ceiling height in parts. It's a classic Winnipeg design that makes efficient use of the compact footprint.
3. Is the unfinished basement a drawback?
It depends on your goals. While it doesn't add finished living space, it provides essential utility access and significant storage or future development potential, which is a positive for a hands-on buyer.
4. How does this home compare to others on the street?
The data shows it is around average for age but below average for living area, land size, and value on Inglewood Street. This suggests it's among the more modest homes on the block, which could mean quieter streetscape expectations and lower relative property taxes.
5. What should a buyer prioritize when considering this property?
A thorough inspection is crucial due to the home's age. Focus should be on the integrity of major systems (roof, foundation, plumbing, electrical) and the basement's condition, as these will determine the true cost of ownership beyond the attractive entry price.