Property Overview: 223 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a standard city lot in the King Edward neighbourhood. Its key characteristic is its modest scale, with a living area of 680 sqft that places it well below the average size for homes locally and citywide. The basement exists but is noted as not renovated, and the property has no garage or pool.
The primary appeal lies in its position as an entry-point property. With a very low assessed value compared to city averages, it represents one of the most accessible homeownership opportunities in Winnipeg. It suits a specific type of buyer: those seeking absolute minimal property tax liability, investors looking for a straightforward rental property with fundamentals over features, or handy individuals viewing it as a blank-slate project. A less obvious perspective is that its small size and vintage can appeal to those seeking a minimalist lifestyle with lower utility and maintenance costs. However, it requires a buyer comfortable with a home that ranks below average in most metrics for space and modern amenities.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the home's modest size, age, and basic condition. It is consistent with values for smaller, older homes in its immediate area, not with newer or larger homes across the broader city.
2. What does "basement, not renovated" typically mean?
This usually indicates a foundational basement space that is unfinished or in a very basic, utilitarian state. It likely lacks developed living areas and may be suited for storage or mechanical systems rather than comfortable living space.
3. Who would this property be most suitable for?
It is best suited for first-time buyers or investors with a very tight budget, or for purchasers who prioritize location and land ownership over the home's current condition and size. It is a practical choice over a luxurious one.
4. How does the lot size compare?
At 2,708 sqft, the lot is smaller than average for the street, neighbourhood, and city. This means less outdoor space but also less yard maintenance.
5. Where can I find the exact historical sale price?
The listed sale price range is based on public data. The exact sale price from May 2019 can be requested directly via email from the site, which provides the figure manually without marketing spam.