Property Overview
This one-storey home at 433 King Edward Street presents a distinct opportunity in Winnipeg's King Edward neighbourhood. Its key appeal lies in a substantial, above-average lot size of nearly 5,800 sq ft, offering more outdoor space than most properties on the street and in the wider area. The house itself, with 1,058 sq ft of living space, is modestly sized but competitive for the locale. A notable characteristic is its 1908 construction, making it one of the older homes in the area, which suggests potential for character but also underscores that the basement is unrenovated. The detached garage adds practical utility.
This property would suit a value-conscious buyer looking for a footprint in a central neighbourhood, with priorities leaning more toward land potential than a move-in-ready finish. It’s a candidate for a long-term holder willing to undertake updates over time, or an investor eyeing the value of a large lot in a established community. The home’s assessed value is modest relative to the city-wide average, indicating a lower property tax burden, which is a practical advantage.
Frequently Asked Questions
1. What is the true condition of the home given its age?
The listing explicitly notes the basement is not renovated. Built in 1908, buyers should budget for updates and anticipate maintenance consistent with a century-old home, while also appreciating the potential for original character.
2. How does the large lot size benefit a buyer?
The lot is significantly larger than average for both the street and the King Edward area. This provides ample yard space, greater privacy, and future potential for expansions, gardens, or outdoor living areas that are rare in similarly priced central locations.
3. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on municipal valuation for tax purposes, which heavily factors in the home's age, condition, and local market values. The lower assessment translates to a correspondingly lower annual property tax bill, an important ongoing cost saving.
4. What can the 2022 sale price range tell me?
The previous sale price provides a recent market benchmark. However, as it’s a range from public data, requesting the exact figure from the site is recommended for precise financial planning and offer preparation.
5. Who are the most likely neighbours or comparable buyers?
Given the home’s profile, likely neighbours include a mix of long-term residents in well-kept older homes and newer infill developments (like the referenced 2021 build nearby). Buyers would be those comfortable in a transitioning, unpretentious neighbourhood where land value is a key component of the investment.