Property Overview: 2555 King Edward Street, Winnipeg
Key Characteristics & Appeal
This one-storey home in Inkster Gardens presents a practical and modern living opportunity. Built in 2006, it is a notably newer construction compared to most homes on its street and across Winnipeg, suggesting fewer immediate concerns with aging infrastructure. With 1,101 sqft of living space and a renovated basement, it offers functional space for a small family or couple. The attached garage is a valuable asset for the climate.
The primary appeal lies in its strong value proposition within its immediate locale. The home’s assessed value ranks in the elite top 4% on King Edward Street, indicating it is perceived as a substantial asset relative to its neighbours. This, combined with its above-average living area for the street, suggests a property that stands out in its micro-market. It would suit first-time buyers or investors seeking a modern, low-maintenance home in a established neighbourhood without the premium of a newer subdivision. A thoughtful perspective is that this home offers the benefits of a newer build (like updated electrical, plumbing, and insulation) within the mature landscape of an older area, providing a balance of modern convenience and established community character.
Frequently Asked Questions
1. Why is the assessed value so high compared to other homes on the street?
The assessment reflects the property’s relative advantages, primarily its much newer construction date (2006 vs. a street average from 1957) and its above-average living area. These factors significantly increase its valuation compared to older, potentially smaller neighbouring homes.
2. Is the land size a drawback?
At 4,111 sqft, the lot is smaller than the Winnipeg city average. However, it is fairly typical for the Inkster Gardens area and is actually close to the average for the neighbourhood. It provides a manageable yard with lower maintenance demands.
3. What can the recent sold price range tell me?
The home sold in late 2022 for between $46.5k and $49.5k. This historical data is a useful benchmark, showing it sold for well above its assessed value at that time, indicating strong market interest. Current market conditions will determine present value.
4. Who would this home not suit?
It may not suit buyers seeking a very large lot, extensive square footage, or a home in a newer suburban subdivision. The appeal is geared more towards efficient, modern living within a mature neighbourhood.
5. How does the renovated basement factor in?
A renovated basement immediately adds functional living space without the need for a future project. It effectively increases the usable area of the home, which is a key advantage given the living area is above average for the street but closer to the city average.