Property Overview: 432 Queen Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in the King Edward neighbourhood presents a compelling mix of modest living space and significant land value. At 728 sqft, the house itself is compact, ranking below average in size for its street, area, and the wider city. Built in 1949, it is typical for its immediate vicinity. However, its true standout feature is the generous 7,765 sqft lot, which ranks in the top 6% on Queen Street and an elite top 1% within the King Edward area. This offers substantial outdoor space rare for the location. The home includes a renovated basement and a detached garage.
The appeal lies in a value proposition centered on land potential. With an assessed value ($290k) that is competitive on its street and above average for King Edward, it suggests you are primarily investing in the property's location and lot size. The renovated basement adds functional living space. This property would suit a practical buyer looking for a foothold in the area without a premium for a large house—perfect for someone valuing outdoor space for gardens, recreation, or future expansion more than interior square footage. It could also appeal to an investor or builder who sees the underlying land value in a mature neighbourhood.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 728 sqft of above-ground living space, it is certainly compact. The renovated basement provides additional functional area, but the main floor is best suited for individuals, couples, or those comfortable with efficient living. The trade-off is the exceptionally large lot.
2. Why is the assessed value relatively high for a smaller home?
The assessment likely reflects the property's substantial and desirable lot size more than the house itself. In mature neighbourhoods, land often constitutes a significant portion of the total value, especially on a lot that ranks in the top 1% for its area.
3. What is the neighbourhood like?
King Edward is a central, established neighbourhood. The property's metrics (like year built and assessed value) are very typical for the area, indicating it fits right into the fabric of a mature, stable community.
4. What are the implications of such a large lot?
It offers rare privacy and space for outdoor activities, gardening, or storage in the city. It also may present future opportunities, such as additions or redevelopment, subject to zoning. Buyers should consider the maintenance required for a lot of this size.
5. How does the sold history help?
The listed sale in July 2020 provides a market benchmark from five years ago. To understand current value, comparing this with more recent sales of similar properties (especially those with larger lots) is essential. The exact sold price is available upon request from the listing source.