Property Overview: 202 Queen Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-and-three-quarter storey home in Winnipeg's King Edward neighbourhood, built in 1912. With 880 sqft of living space and a 4,260 sqft lot, it presents a compact footprint with a notably generous yard for the area. The home features a basement (not renovated) and a detached garage.
Its primary appeal lies in its position as a genuine entry-point into homeownership or a strategic investment. The assessed value is significantly below averages for the street, neighbourhood, and city, suggesting a lower property tax burden and potential value opportunity. The lot size is a standout asset, offering rare outdoor space for gardens, play, or expansion in a central location. This property would suit a hands-on buyer comfortable with a home of vintage character, an investor looking for a land-value play, or a pragmatic first-time buyer prioritizing location and lot size over move-in-ready finishes. It’s a canvas for customization rather than a turn-key solution.
Section 2: Frequently Asked Questions
1. What does "below average" assessed value mean for me?
A lower assessed value typically translates to lower municipal property taxes compared to similar-sized homes in the area. It can indicate the home requires updates, but it also establishes a lower baseline for your carrying costs.
2. Is the older age of the home (1912) a concern?
Homes of this era were built with durable materials, but systems like wiring, plumbing, and insulation may need evaluation and updating. The charm comes with the responsibility of proactive maintenance.
3. The living space is compact. What are the possibilities?
The generous lot is a key asset. For future living space, the unrenovated basement presents potential, and the large yard could allow for an addition or garden suite, subject to zoning approvals.
4. How does this home compare to others on Queen Street?
It ranks around average for living and land area on its street but is below average for assessed value and year built. This suggests you’re getting a larger-than-typical lot for the street in an older home priced below its neighbours.
5. What is the neighbourhood like?
King Edward is a mature, central neighbourhood. Being close to similar vintage homes on Queen Street offers a consistent streetscape. Proximity to nearby referenced properties suggests a mix of well-maintained and more modest homes, typical of established urban areas.