Property Overview: 112 Edward Avenue W, Winnipeg
Key Characteristics & Appeal
This home presents a compelling value proposition within its immediate community. Its primary strengths are its generous lot size and above-average living space for the Radisson neighborhood. At just under 6,000 sqft, the lot is notably larger than most on Edward Avenue W, offering excellent outdoor potential. The 1,308 sqft living area also ranks highly, providing more room than the typical area home.
The appeal lies in its strong positional value. While its assessed value of $365k is around the city average, it ranks in the top tier for its specific street and neighborhood, suggesting you get more house and land for your dollar here than in many nearby streets. It’s a 1960s-built home, typical for the area, meaning buyers should budget for updates common to houses of this era.
This property would suit a practical buyer looking for space and value in a mature neighborhood. It’s ideal for someone who prioritizes a larger yard over a brand-new build, and who sees the value in a home that stands out positively against its direct neighbors in terms of lot size and living area.
Frequently Asked Questions
How does this home’s value compare to nearby sales?
Based on available data, it last sold between $250k-$300k in mid-2016. Current assessed value is $365k. Nearby recent sales of similar-sized homes in Radisson show a range, with some larger lots or more updated homes selling for more, and smaller, older homes selling for less.
Is the assessed value a reliable indicator of market price?
The assessed value is for municipal tax purposes and is a lagging indicator. Its true market value is determined by current conditions. However, its high ranking (Top 2%) on its own street suggests it is considered a higher-value property in its immediate context.
What might the larger lot size mean for me?
Beyond more private outdoor space, a larger lot can offer more flexibility for additions, landscaping, gardening, or future structures like a shed or garage, subject to city bylaws. It’s a feature that is less common on this street.
Are there any obvious concerns with a home from 1960?
Homes from this period may have original components nearing the end of their service life, such as the roof, windows, plumbing, or electrical systems. A thorough inspection is recommended to identify any needed updates or repairs.
Why is the city-wide living area average higher?
While this home offers more space than most in Radisson, the city-wide average includes many newer suburban developments with different home styles and sizes. This highlights that the home’s size is a standout feature within its established neighborhood context.