Property Overview: 464 Queen Street, Winnipeg
Key Characteristics & Appeal
This one-storey home at 464 Queen Street in Winnipeg's King Edward neighbourhood presents a unique value proposition centered on its land and location. The 676 sqft living space is compact, ranking below average for size both on its street and within the city. However, this is balanced by a significantly above-average land area of 6,694 sqft, placing it in the top 3% of lots in King Edward. The property includes a detached garage, a renovated basement, and a pool.
Its primary appeal lies in this substantial lot size, offering rare potential for expansion, gardening, or outdoor living within the city. The home itself, built in 1949, is a functional entry point. The assessed value is notably strong for its immediate area, suggesting the property is well-regarded relative to its neighbours. It suits a specific buyer: someone seeking an affordable footprint in Winnipeg with a clear vision to utilize or potentially develop the generous lot. It’s a property where the value is arguably more in the land than the current structure, ideal for a hands-on buyer, an investor seeing long-term potential, or someone prioritizing private outdoor space over interior square footage.
Frequently Asked Questions
1. Is the house in move-in condition?
While the basement is noted as renovated, the main living area is compact at 676 sqft and the home is 77 years old. Buyers should budget for updates to suit modern tastes and expect the vintage character of a one-storey home from this era.
2. Why is the assessed value high compared to the home's size?
The assessed value reflects the entire property, not just the house. The high ranking locally is likely driven by the substantial and desirable lot size, which is a major asset in this neighbourhood.
3. What can I do with such a large lot?
The lot offers flexibility that is rare in the city. Potential uses include extensive landscaping, adding a large deck or patio, creating recreational space around the existing pool, or, subject to zoning and permits, future expansion of the home or adding ancillary structures.
4. How does the sold price history help?
The last recorded sale (2022) provides a recent market benchmark. Understanding how the final price related to the assessed value at that time can offer insight into local market dynamics and how this property is valued in actual transactions.
5. Who are the typical buyers in this area?
King Edward attracts a mix of long-time residents, investors, and buyers seeking more affordable entry points into Winnipeg’s housing market. This particular property, with its large lot, would also attract buyers looking for a project or those who value outdoor space highly.