Property Overview: 228 Queen Street, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1914, presents a classic character property with practical considerations. Its key appeal lies in its above-average living space (1,176 sq ft) for both its immediate street and the King Edward neighbourhood, offering more room than many comparable local homes. The property includes a detached garage and a full, unrenovated basement, providing ample storage or future development potential.
The home’s assessed value is notably below average across all comparison levels, which could signal an entry point into a mature neighbourhood for value-conscious buyers. It suits a first-time buyer, an investor, or a hands-on homeowner comfortable with a property that has a functional, unrenovated basement. A thoughtful perspective is that while the home is older, its living area ranks well locally, suggesting a efficient use of its footprint for its era. The modest land size (3,880 sq ft) is actually slightly larger than the neighbourhood average, offering a manageable yard in an established urban area.
Frequently Asked Questions
1. Is this a good value compared to the area?
The assessed value is significantly below averages for the street, neighbourhood, and city. This typically indicates a lower property tax base and may represent a value opportunity, though it can also reflect the home’s condition or specific market factors.
2. What does "one-and-three-quarter storey" mean?
This is a common architectural style for the era. It typically means the second floor has full-height ceilings under the roof’s main ridge, but the rooms may have sloped ceilings or dormers where the roof line descends, creating cozy, character-filled spaces.
3. The basement is noted as "not renovated." What should I expect?
This indicates the basement is in a functional, likely original state. It offers utility space and storage but would require investment to modernize into finished living space. It’s a blank canvas for future projects.
4. How does the sold history inform the current price?
The home sold in July 2023 for an estimated range of $20.50k to $23.50k. This very recent sale at a price close to its current $200k assessment suggests a stable value trajectory in the short term.
5. The home is over 110 years old. What are the main concerns?
While offering charm, a home of this age requires diligent inspection. Key focus areas should include the foundation, original plumbing and electrical systems, roof, and insulation. The unrenovated state means many original systems may still be in place.