Property Overview
This one-storey home at 204 Brooklyn Street in Winnipeg's King Edward neighbourhood presents a unique profile. Its key appeal lies in a combination of modern convenience and strong value metrics within its immediate area. Built in 2010, it is a significantly newer construction compared to most homes on its street and in the wider neighbourhood, which are predominantly from the late 1940s. The 1,152 sqft living area is above average for the local context, and the property sits on a 4,229 sqft lot, offering generous outdoor space for the area.
The standout characteristic is its assessed value of $38,900, which ranks in the top 5% for both Brooklyn Street and the King Edward neighbourhood. This suggests a very favourable municipal tax assessment relative to nearby properties. The home features a renovated basement and a detached garage.
This property would suit a buyer looking for a low-maintenance, modern home in an established central neighbourhood without paying a premium for a brand-new build. It’s ideal for those who value above-average indoor and outdoor space for the area and are particularly mindful of property tax implications. The data indicates it offers elite value for the specific locale, making it a pragmatic choice for cost-conscious buyers who still want a contemporary living space.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Municipal assessments are based on market value and are highly comparative within specific areas. This home’s "elite" ranking locally indicates it is assessed at a higher value than most nearby properties, but those neighbouring values are themselves lower than the Winnipeg average. This typically reflects the prevailing market values in the King Edward area.
2. How does the 2010 build year affect the home compared to older neighbours?
A 2010 construction means major systems (roof, wiring, plumbing, insulation) are decades newer than those in most neighbouring homes from the 1910s-1950s. This can translate to greater energy efficiency, fewer immediate repairs, and modern building standards, but the architectural character may differ from the neighbourhood's historic homes.
3. What does the sold price history from 2017 indicate?
The recorded sale in the $30,500-$33,500 range in 2017 provides a historical benchmark. Given the current assessed value and market changes, it is a starting point for understanding appreciation, but a current market evaluation is essential for today's value.
4. Is the renovated basement a legal suite?
The listing states the basement is renovated but does not specify it as a legal rental suite. Buyers should verify with the city for permits and compliance if considering rental income, as a renovation does not automatically equate to a legal secondary suite.
5. How meaningful are the "top percentile" rankings provided?
These rankings are a relative comparison tool. They clearly show this property outperforms most peers on its street and in King Edward in terms of size, newness, and assessed value. However, city-wide rankings are more mixed, highlighting that its advantages are particularly pronounced within its immediate local context.