Property Overview: 456 King Edward Street
Key Characteristics, Appeal & Ideal Buyer
This bi-level home at 456 King Edward Street is a modern property built in 2015, making it notably newer than most homes in its immediate area and across Winnipeg. Its primary appeal lies in this contemporary construction, which suggests fewer immediate maintenance concerns and potentially more modern building standards and finishes. The home features a renovated basement and a living area of 892 sqft, which is quite compact but typical for the King Edward neighbourhood.
The property presents a study in contrasts. While the house itself is modern and well-positioned within its local market for assessed value, it sits on a smaller lot (2,705 sqft). This could be seen as a trade-off: you gain a newer home but have less outdoor space than many neighbours. Its assessed value of $320k is strong for the King Edward area, indicating it is viewed as an above-average property locally. This home would likely suit a first-time buyer or downsizer who prioritizes a modern, low-maintenance home in a central neighbourhood over expansive square footage or a large yard. It’s for someone who values the practical benefits of a newer build and is comfortable with efficient, cozy living spaces.
Frequently Asked Questions
1. How does the home’s size compare to others?
At 892 sqft, the living area is very close to the average for the King Edward neighbourhood (~952 sqft). However, it is significantly smaller than the typical Winnipeg home, which averages around 1,342 sqft.
2. What does the "Elite" ranking for Year Built mean?
This means the 2015 build date places this home in the top 5% of properties on its street for newness, as many nearby homes are much older, with a street average build year of 1957.
3. Is the lot size a concern?
The land area is below average for the street, neighbourhood, and city. This means the yard is likely compact. For buyers seeking ample outdoor space, it’s a consideration; for those wanting less yard work, it could be a benefit.
4. Why is the assessed value considered "above average" locally?
With an assessed value ranking in the top 17% for the King Edward area, the property is valued higher than most comparable homes nearby. This is likely driven by its newer construction and renovated basement, offsetting its smaller size.
5. What can nearby sales tell us?
A directly neighbouring property at 468 King Edward, built even more recently in 2021, provides a useful benchmark. While that home is slightly larger, its presence confirms the appeal and value of newer builds on this street.