Property Overview: 485 Brooklyn Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a generous 4,593 sqft lot presents a straightforward opportunity in Winnipeg's King Edward neighbourhood. Its key appeal lies in the land itself—the lot size is well above average for both Brooklyn Street and the wider area, offering valuable outdoor space and future potential. The house, built in 1960 with 888 sqft of living space and an unrenovated basement, is functionally modest. The assessed value is strong for its immediate locale, suggesting the property is viewed favorably relative to its neighbours.
This home would best suit a practical buyer who values space over turn-key condition. It's a candidate for a long-term holder who can gradually update the home, an investor looking for a land-value play, or a first-time buyer comfortable with a property that needs work. Its above-average lot size in a mature neighbourhood is its standout feature, offering more privacy and room than is typical for the area, which balances its smaller and dated living quarters.
Section 2: Frequently Asked Questions
1. What is the true condition of the basement?
The listing specifies the basement exists but is "not renovated." Prospective buyers should budget for inspections and potential updates, as it likely requires finishing or significant repairs to be fully functional living space.
2. How does the lot size compare practically?
At nearly 4,600 sqft, the lot is notably larger than many in the immediate area (where averages are around 2,800-3,800 sqft). This means more yard space, gardening potential, and distance from neighbours than you might find in a comparable-priced home nearby.
3. Why is the assessed value higher than the neighbourhood average?
While the assessed value is around average for the larger King Edward area, it ranks in the top 15% on Brooklyn Street itself. This suggests the property's specific attributes—likely its larger lot and the recent 2022 sale—are valued more highly than its direct street comparables.
4. What does the 2022 sale price indicate?
The home sold for an estimated $31.5k-$34.5k in mid-2022. This recent transaction provides a concrete, modern benchmark for value, showing a significant increase over the current assessed value and indicating active market interest.
5. Who are the most likely neighbours or buyers?
Given the mix of older homes and newer builds (like the referenced 2021 home on King Edward Street), the area appears to be in a state of gradual renewal. Buyers could be a mix of long-time residents and those making strategic investments in the neighbourhood's evolution.