Property Overview: 307 Edward Avenue E
Key Characteristics & Buyer Profile
This is a compact, one-storey home built in 1920, presenting a classic opportunity in Winnipeg's Kildare-Redonda neighbourhood. Its primary appeal lies in a compelling contrast: while the 746 sqft living space is notably below average for the area, the 5,150 sqft lot is significantly larger than most on its street. This creates a distinct value proposition centered on land potential. The detached garage and renovated basement add practical utility.
The home suits a specific buyer: someone seeking an entry point into the market who values outdoor space over interior square footage. It’s ideal for a minimalist household, an investor looking for a lot with future development potential (subject to zoning), or a buyer planning a thoughtful expansion who can work with the existing structure. Its assessed value is consistently average for the area, suggesting a stable, no-surprises valuation. The charm here isn't in move-in-ready size, but in the possibilities afforded by a generous lot in an established community.
Frequently Asked Questions
1. Is the house too small for modern living?
At 746 sqft, the living area is compact. It would suit a single person, a couple, or a small household comfortable with efficient living. The renovated basement provides crucial additional space for utilities, storage, or a recreation area.
2. What does the "below average" year built (1920) mean for maintenance?
A home from 1920 requires a diligent inspection. While it offers character, potential buyers should budget for updates to older mechanical systems, insulation, and windows. The renovated basement is a positive modern touch.
3. Why is the lot size highlighted as a key feature?
The lot is over 5,000 sqft, which is larger than 91% of lots on Edward Avenue E. This is the property's standout asset, offering ample yard space, gardening potential, or future options like an addition, depending on local regulations.
4. How does the sold price history from 2021 relate to today's value?
The home sold for an estimated $25.5k-$28.5k in 2021. The current assessed value is $32.10k. This history shows appreciation, but the actual market value today will be influenced by recent market conditions, the renovation work done, and buyer demand for lots of this size.
5. Who are the most likely competing buyers for this property?
Given its structure, you may compete with first-time homebuyers seeking affordability, practical investors attracted by the lot-to-building ratio, and builders or renovators who see the underlying land value and potential for expansion.