238 King Edward Street

Property Overview

This one-and-a-half storey home, built in 1918, presents a straightforward opportunity in Winnipeg's King Edward neighbourhood. With 882 square feet of living space and an unrenovated basement, it sits on a modest 2,699 sqft lot. Its key metrics—living area, assessed value ($22,600), and age—are typical for the immediate street and King Edward area, though they fall below Winnipeg-wide averages. The home last sold in late 2020. Its appeal lies in its position as an affordable, no-frills entry point into the market, particularly for those focused on location over size or modern finishes. It would suit a first-time buyer comfortable with a project, an investor looking for a rental property with a lower entry cost, or someone seeking a minimalist footprint. A less obvious perspective is that its smaller lot and average-in-area status could mean fewer property tax surprises and manageable outdoor upkeep, allowing an owner to invest time and budget selectively.

Frequently Asked Questions

1. What does "unrenovated basement" typically imply?
It usually means the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates to flooring, lighting, or finishes to suit their needs, and a thorough inspection is advised to assess its condition.

2. How does the assessed value relate to the likely selling price?
The municipal assessed value is for tax purposes and is often, but not always, lower than market value. The sale price is determined by current market conditions. The 2020 sale price range provides a more recent benchmark, but the market has likely shifted since then.

3. With no garage, what are the parking options?
The listing notes no garage. Buyers should verify on-street parking regulations with the city and observe the typical parking availability on the street during different times to assess convenience.

4. The home is older—what should I prioritize in an inspection?
For a 1918 home, an inspection should thoroughly examine the foundation, roof, electrical wiring, plumbing, and insulation. Understanding the condition of these core systems is more critical than cosmetic issues.

5. The lot size is noted as below average. What are the practical effects?
The smaller lot means less yard maintenance and limited potential for expansions like a large addition or detached garage. However, it can also mean a more community-focused street feel and lower landscaping costs.