Property Overview: 428 King Edward Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1913, presents a practical opportunity in Winnipeg's King Edward neighbourhood. With 930 square feet of living space and a renovated basement, its interior size is typical for the immediate area. The home sits on a modest, sub-2,650 sqft lot, which is notably smaller than most in the city but common for this older, established streetscape. A detached garage provides off-street parking.
The primary appeal lies in its position as an affordable, no-fuss entry point into the housing market. Its assessed value is significantly below the citywide average, suggesting a lower property tax burden and an accessible price point. This isn't a large or modern home, but its recent sale history indicates steady market activity. It would suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking a low-maintenance footprint without leaving the city. The renovated basement adds functional living space, a key update for a home of this age. A thoughtful perspective: the very compact lot size, while limiting for expansive gardening or additions, translates to minimal exterior upkeep, a hidden benefit for those prioritizing time and budget.
Section 2: Frequently Asked Questions
1. Is the lot size a significant drawback?
It depends on your lifestyle. While well below the Winnipeg average for land area, it is not uncommon for older central neighbourhoods. It means a smaller yard to maintain but less room for large-scale outdoor projects or expansions.
2. How does the assessed value relate to the likely selling price?
The assessed value (21.10k) is for municipal tax purposes. Recent sold price data for this home (ranging from ~19.5k to ~24.5k in 2021) suggests the market price operates in a similar, low-range bracket, but current conditions will ultimately determine the sale price.
3. What should I consider about a home built in 1913?
While the basement has been renovated, the core structure is over a century old. Prospective buyers should prioritize a thorough inspection to understand the condition of foundational elements, the roof, wiring, and plumbing, which may require updates.
4. Who might this property not suit?
It likely won't suit buyers needing multiple bedrooms, abundant storage, or large-scale modern amenities. Families desiring a large backyard or individuals looking for a move-in-ready home with all contemporary finishes should look carefully at the space and potential update needs.
5. What is the context of the "below average" citywide rankings?
Metrics like living area and lot size rank "below average" compared to the entire city, which includes vast suburbs with newer, larger homes. Within the King Edward neighbourhood itself, this home is much more typical, ranking closer to average for size and value. This highlights its role as a classic inner-city property.