470 Parkview Street

Property Overview

This one-storey home at 470 Parkview Street in Winnipeg's King Edward neighbourhood presents a practical opportunity. Built in 1954, its 932 sqft living space is typical for the immediate area but modest by wider city standards. The property’s standout feature is its generous 5,424 sqft lot, which is significantly larger than most in King Edward and on Parkview Street itself, offering valuable outdoor space and potential. A renovated basement and a detached garage add functional utility. The home's assessed value positions it above average for the neighbourhood, suggesting it is well-maintained relative to local peers.

Key Characteristics & Appeal

The primary appeal of this property lies in its land size and location. The large lot is a rarity for the area, providing room for gardening, expansion, or simply more private outdoor living—a notable advantage in an established inner-city neighbourhood. The renovated basement adds flexible living space, which is a key asset in a smaller main-floor footprint. Its assessed value history indicates stable, consistent valuation within its community.

This home would suit a first-time buyer or downsizer looking for a manageable, single-level layout in a mature neighbourhood without sacrificing yard space. It’s also a sensible fit for a value-conscious buyer who sees potential in the substantial lot, whether for immediate enjoyment or future investment. The fact that it holds an above-average assessment for King Edward, while being modest city-wide, highlights its as a solid, grounded option within its specific market context.

Frequently Asked Questions

1. How does the lot size compare to nearby properties?
The 5,424 sqft lot is a key feature. It ranks in the top 14% on Parkview Street and the top 10% in the King Edward neighbourhood, meaning it is substantially larger than many surrounding properties.

2. Is the living space smaller than average?
At 932 sqft, the living area is close to the average for both the street and King Edward. However, it is below the average for the entire city, so buyers should expect a comfortably sized but not expansive interior, offset by the larger lot and renovated basement.

3. What does the assessed value tell us?
With an assessed value above the neighbourhood average, it suggests the property is in good condition relative to many local comparables. It's important to note that assessed value for tax purposes is different from market value, but it can indicate general standing in the area.

4. What is the significance of the most recent sold price range?
The listed sold price range from March 2024 provides a recent market benchmark. It shows the home sold in a range that was above the neighbourhood's average sold price at the time, reinforcing its solid positioning within the local market.

5. Who might this property not suit?
Buyers seeking a move-in-ready home with modern, open-concept layouts or very large interior spaces may find it limiting. It’s better suited for those who value land size and location over square footage or who are comfortable with the layout of a classic one-storey home.