Property Overview & Appeal
This bi-level home at 461 Queen Street in Winnipeg's King Edward neighborhood presents a distinct, modern offering in a city of older housing stock. Built in 2016, its key characteristic is its relative newness, ranking in the top 4% of homes on its street and top 6% city-wide for year built. This suggests lower immediate maintenance costs and modern building standards. The 1,036 sqft living area is comfortably above average for both the immediate street and the King Edward area. Its appeal lies in this balance of a newer, renovated home within an established community. The detached garage is a practical asset.
The property suits first-time buyers or downsizers seeking a modern, low-maintenance home without venturing to the distant suburbs. It also appeals to value-focused investors, as its assessed value ranks in the top 11% locally, indicating strong perceived value for the area. A less obvious perspective is the lot size: at 3,319 sqft, it is smaller than many city lots, which translates to less yard upkeep—a potential perk for some, though a limitation for others wanting expansive outdoor space.
Frequently Asked Questions
1. Is this a true single-family home?
Yes, it is a detached, single-family bi-level home with a detached garage. The "bi-level" style typically means living space is split across two main levels accessed by a short flight of stairs from the main entrance.
2. Why is the assessed value so much lower than the city-wide average?
The city-wide average assessed value includes all property types and neighborhoods. This home's assessment is actually well above average for its own street and the King Edward area, reflecting its newer construction and renovated condition relative to its immediate peers, which are often much older.
3. What does the sold price history indicate?
Public records show it last sold in August 2016 for an estimated range of $29.5k to $32.5k. As it was likely sold new at that time, the current assessed value of $34.3k suggests modest growth in its assessed value over the past decade.
4. How does the living space compare to nearby homes?
At 1,036 sqft, it offers more living area than the average home on Queen Street and in the broader King Edward neighborhood, where averages are 976 sqft and 952 sqft respectively. It is, however, smaller than the Winnipeg city-wide average.
5. What are the implications of the smaller lot size?
The lot is under 3,500 sqft, which is smaller than many traditional Winnipeg lots. This means a more compact yard, which requires less maintenance but also offers less private outdoor space for gardening or recreation. It's a trade-off that prioritizes the home itself over the land.