Property Overview: 499 King Edward Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1910, presents a classic character property with practical fundamentals. Its primary appeal lies in its above-average living space (1,140 sq ft) for the immediate area, offering more room than many neighbouring homes. The property features a detached garage and an unfinished basement, representing a straightforward canvas for future customization.
The home suits buyers looking for value and potential in a well-established neighbourhood. It’s particularly fitting for a first-time buyer comfortable with a home that hasn’t been fully renovated, an investor seeking a property with solid fundamentals, or someone who appreciates the character of an older home without paying a premium for modern updates. A thoughtful perspective is that its assessed value is modest relative to the city-wide average, which can translate to lower property taxes, while its living area ranks highly on its street—a combination that suggests efficient value within its specific community.
Frequently Asked Questions
1. Is the low assessed value a concern?
Not necessarily. The assessed value is around average for King Edward but below the city-wide average. This typically indicates a more affordable property tax burden, which is a practical advantage for long-term affordability.
2. What does the "unfinished basement" mean for me?
It means the basement space is usable for storage or utilities but requires investment to finish as living space. This is a common feature in older homes and provides the next owner with the opportunity to customize the layout and finishes to their own needs and taste.
3. The home is older—what should I consider?
Built in 1910, the home will have the charm and solid construction of its era, but systems like plumbing, electrical, and insulation should be carefully inspected. Its age is typical for the street, but a thorough pre-purchase inspection is essential.
4. How does the lot size compare?
The land area (2,904 sq ft) is around average for the King Edward area but smaller than the Winnipeg average. This means manageable yard maintenance and is consistent with the neighbourhood's established, closer-knit feel.
5. Can I get the exact historical sale price?
Yes, but not automatically displayed. The exact sold price from the last transaction (October 2016) is available by request via email from the listing service to ensure accuracy and privacy. The provided range offers a general market reference.