Property Overview & Key Characteristics
This one-storey home at 233 Collegiate Street in Winnipeg's King Edward neighbourhood presents a practical and affordable entry point into the market. Its key appeal lies in its relative value and manageable scale within a central, established area. The 809 sqft living space is modest but typical for the immediate street and neighbourhood, where homes average around 950-977 sqft. A recently renovated basement adds functional living space. The detached garage and a 2,708 sqft lot offer essential outdoor and storage space, though the lot size is notably smaller than area averages.
The home suits first-time buyers or investors looking for a straightforward, lower-maintenance property without the premium of a larger lot or newer build. Its assessed value positions it as an affordable option within King Edward. A thoughtful perspective is that this property represents the "bones" of the neighbourhood—a classic, century-old (built 1918) home on a compact lot, offering the location's benefits without the upkeep demands of a larger property. It’s for a buyer who values location and simplicity over size and newness.
Frequently Asked Questions
1. How does the home's size compare to others?
At 809 sqft, the living area is slightly below the average for the King Edward neighbourhood (~952 sqft) but is quite typical for Collegiate Street itself. It represents a compact, efficient layout.
2. What does the assessed value indicate?
The assessed value of $23,600 is around the average for both the street and the King Edward area, suggesting the property is priced in line with local norms for its type and age. It is significantly below the citywide average, highlighting the area's affordability.
3. Is the smaller lot size a concern?
The 2,708 sqft lot is below average for the street and neighbourhood. This means less yard maintenance, which can be a benefit for some, but offers less private outdoor space than many surrounding properties.
4. What should I consider about the age of the home?
Built in 1918, the home is older than the neighbourhood average. This typically means potential for character but also underscores the importance of a thorough inspection to understand the condition of major systems, despite the renovated basement.
5. Who would this property suit best?
It is well-suited for a first-time homebuyer, a downsizer, or an investor seeking an affordable, single-level home in a central location. It is less suited for those prioritizing large indoor or outdoor space or a newer construction.