Property Overview: 113 Edward Avenue W, Winnipeg
Key Characteristics & Buyer Appeal
This home presents a distinct profile defined by its contrasts. Its most compelling feature is the land: at just under 6,000 sqft, the lot is significantly larger than most on the street and in the Radisson neighbourhood, offering valuable outdoor space and potential. This stands in sharp contrast to the home itself, which is notably compact at 595 sqft and is one of the older homes in the area, built in 1932. The assessed value of $226k reflects this, sitting well below local and city averages.
The appeal here is grounded in opportunity and location. It suits a specific buyer: someone seeking an affordable entry into the Winnipeg market, a hands-on individual interested in a renovation or expansion project (where the large lot is a major asset), or an investor looking for a rental property with a lower initial investment. It’s less suited for those needing immediate move-in-ready space or the largest home for the money. A thoughtful perspective is that this property represents the "bones" of a potential future home—where the value lies more in the land and the possibility it offers than in the current structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbours?
The assessed value is based on the existing structure—its small size (595 sqft) and age (1932). While the land is a positive factor, the overall assessment reflects the current, modest home rather than the potential of the large lot.
2. Is the large lot a practical benefit?
Absolutely. It provides ample yard space, which is rare for the area, and offers tangible future potential. Whether for gardening, adding a garage, or even a future expansion (subject to zoning and permits), the lot is this property's standout feature.
3. What should I budget beyond the purchase price?
Given the home's age and size, buyers should realistically budget for updates. While it's habitable, systems like plumbing, electrical, or the roof may need attention. The value proposition is the land and location, with the understanding the home itself likely requires investment.
4. How does the recent sale price compare to the assessment?
The home sold between $150k-$200k in May 2023. This sale range was below the $226k assessed value, which may indicate market conditions at the time or factors related to the property's condition. It underscores the importance of a current, professional valuation.
5. Where can I get verified sale price data for this home?
The site provides sold price ranges based on public data. For the exact sale price and full transaction history, you must request a manual lookup via email, as this information is not sourced from the MLS system.