Property Overview: 520 Collegiate Street, Winnipeg
Key Characteristics & Appeal
This one-storey home in King Edward presents a practical and value-oriented opportunity. Its key strength is the generous 5,422 sqft lot, which is well above average for both the immediate street and the wider neighbourhood, offering significant outdoor space and potential. The living area (1,030 sqft) is comfortably sized for the area, and the home benefits from a renovated basement. A detached garage adds functional storage or workshop space.
The appeal lies in its solid positioning within a mature community. The assessed value is notably above average for King Edward, suggesting the property is viewed favorably relative to its local peers. It suits first-time buyers seeking a manageable single-level layout with room to grow outdoors, or investors looking for a character home with a strong lot value in a stable neighbourhood. A less obvious perspective is that, while the home is newer than many on the street (built 1961), it still carries the potential maintenance considerations of a 65-year-old structure, balanced by the upside of its substantial land parcel.
Frequently Asked Questions
1. How does the property’s value compare to the area?
The home’s assessed value is in the top 15% for the King Edward neighbourhood, indicating it is considered above average compared to nearby properties. City-wide, its assessment is around the median.
2. What is the condition of the basement?
The listing specifies the basement has been renovated. We recommend a viewing and professional inspection to confirm the scope and quality of the renovations.
3. Is the lot size a significant feature?
Yes. The land area is a standout, ranking in the top 15% on Collegiate Street. This larger-than-average lot is a key asset for privacy, gardening, expansion, or future development, subject to zoning.
4. What are the typical utility costs for a home of this age and size?
While specific costs aren’t provided, buyers should budget for utilities consistent with a one-storey home built in the 1960s. The renovated basement may have updated insulation, but an older primary structure can mean higher heating costs compared to a new build.
5. Can I get the exact historical sale price?
The listed sale range is based on public data. The exact sold price is available by request via email from the listing service, which they provide manually without using your email for unsolicited marketing.