Property Overview: 222 Queen Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1912 on a decent-sized lot in the King Edward neighbourhood. With 715 sqft of living space, it is notably smaller than most homes in Winnipeg, positioning it as a more affordable entry point. Its assessed value is significantly below the city average, reflecting its modest size and unrenovated basement. The appeal here is fundamentally about value and potential. It suits a specific buyer: someone seeking a minimal footprint to keep costs low, an investor looking for a straightforward rental property, or a hands-on buyer who sees the unfinished basement and older character as a blank canvas for gradual, personalized updates. The detached garage and nearly 4,000 sqft lot offer practical utility and space that many similarly priced properties lack, providing room for gardening, storage, or future expansion—a key advantage not immediately apparent from the square footage alone.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's smaller size (715 sqft), its age, and the fact that the basement is noted as not being renovated. It's assessed based on its current condition and utility, not on potential after improvements.
2. What does "Top 85%" or "Top 96%" for Living Area mean?
These rankings compare this home to others. For example, "Top 96% citywide" means that 96% of homes in Winnipeg have more living area. It's a quick way to see that this is a compact home relative to the market.
3. The last recorded sale was between $13.5k and $16.5k in 2017. Is that accurate?
The provided sold price range is based on available public data. For the exact sale price, you can request it via email from the site. Such a low historical sale price is unusual and may indicate a specific circumstance, like a non-arms-length transaction or sale of the land only.
4. Who would this property be best for?
It's best suited for a budget-conscious first-time buyer comfortable with a smaller space, a landlord adding to a portfolio, or a buyer with renovation skills. Its low ongoing taxes (tied to the low assessment) and the lot size are significant perks for these groups.
5. Are the nearby properties with similar assessed values good comparables?
The listed properties with similar assessed values are primarily condominium units, not houses. This highlights that 222 Queen Street offers detached home ownership with land at a price point comparable to a condo, which is a distinct value proposition.