Property Overview: 223 Amherst Street
Key Characteristics & Appeal
This is a compact, one-storey home built in 1939, offering a practical and affordable entry point into Winnipeg’s King Edward neighbourhood. With 709 square feet of living space and a renovated basement, it maximizes its functional space. The lot is a manageable 3,757 sqft, typical for the area.
Its primary appeal lies in its value and simplicity. The home's assessed value is consistently below average for the city and its immediate street, suggesting a lower property tax burden and an accessible price point. It’s not a large or modern property, but it presents a grounded opportunity. The renovated basement adds valuable flexible space, which is a significant asset in a smaller home.
This property would suit first-time buyers, downsizers, or investors seeking a straightforward, low-maintenance holding. It’s for someone who prioritizes financial practicality and location over size or modern finishes. A thoughtful perspective is that a home of this size and vintage in a central neighbourhood can offer a simpler, more sustainable lifestyle with lower utility and upkeep costs compared to larger, newer builds.
Frequently Asked Questions
1. How does the size of this home compare to others?
At 709 sqft, the living area is below average for the street, the King Edward area, and Winnipeg overall. It’s a compact home, which is reflected in its positioning in the bottom 25-30% for size among nearby comparable properties.
2. What does the assessed value tell me?
The assessed value of $21,500 is below the average for Amherst Street and Winnipeg city-wide. This typically indicates a lower municipal property tax bill, which is a key part of ongoing affordability.
3. Is the lot size a constraint or a benefit?
The 3,757 sqft lot is slightly below average for the street but very close to the average for the King Edward area itself. It provides adequate outdoor space without the demanding maintenance of a much larger yard, which can be a benefit for those seeking a manageable property.
4. The home was built in 1939. What should I consider?
While the basement has been renovated, the core structure is 87 years old. Prospective buyers should budget for and inspect age-related components, such as the foundation, plumbing, and electrical systems, to understand any needed updates beyond the renovated spaces.
5. Who are the most likely neighbours or buyers for a home like this?
Given its size and value, the immediate market includes first-time buyers entering the market, investors looking for a rental property, or empty-nesters downsizing from a larger family home within the area.