Property Overview
This 1912 one-and-three-quarter storey home on King Edward Street offers a compact, renovated living space of 960 square feet, situated on a standard city lot. Its key appeal lies in its position as a modest, lower-value entry point into the Winnipeg market. The home has a renovated basement, adding functional space, but does not include a garage or pool.
The property would suit a very specific buyer: first-time purchasers or investors seeking a low-cost acquisition with renovation potential, or those interested in the character of an older home without the premium price of a fully updated or larger historic property. Its below-average assessed value across all metrics suggests it is a functional starter home rather than a premium asset. A thoughtful perspective is that this home represents the practical, unglamorous foundation of homeownership for many, offering a chance to build equity in a well-established neighbourhood without a large initial financial outlay. Its average size for the immediate area indicates it fits the local streetscape, potentially offering a sense of community consistency.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific characteristics—its smaller size, older age, and lack of certain features like a garage—compared to the broader Winnipeg market, which includes many newer and larger homes. It is more in line with lower-valued properties in its own neighbourhood.
2. What does "one-and-three-quarter storey" mean for the layout?
This style typically features a main floor and a second floor where the roofline slopes into the walls, creating some rooms with sloped ceilings or slightly reduced square footage on the upper level, common in early 20th-century homes.
3. The home sold in 2019 for a surprisingly low price. What does that indicate?
The prior sale price, which is a matter of public record, reflects the property's long-standing position as a lower-value asset. It underscores the home's role as an affordable entry point and suggests any future buyer should focus on its current condition and market value rather than that historical figure.
4. How does the lot size compare, and what are the implications?
At just under 2,900 square feet, the lot is around average for the King Edward area but below average city-wide. This means outdoor space is limited but typical for the neighbourhood, aligning with the home's compact, efficient footprint rather than offering expansive yard potential.
5. Who would this property not be suitable for?
It would likely not suit buyers looking for a move-in-ready modern home, those requiring ample storage or parking (as there is no garage), or families needing significant square footage and larger lot sizes commonly found in post-war suburbs.