Property Summary: 245 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in King Edward presents a practical and straightforward opportunity. Its key appeal lies in its efficient size (1,071 sq ft), a recently renovated basement adding functional living space, and a land area that is notably larger than many lots in the immediate neighbourhood. Built in 1984, it is a newer construction compared to many area homes, which may appeal to those wanting to avoid the maintenance concerns of a century-old property.
The home suits first-time buyers, downsizers, or practical investors looking for a manageable footprint in a central Winnipeg neighbourhood. Its assessed value positions it as an accessible entry point into the market. A thoughtful perspective is that while the living space is average for the city, the above-average lot size for the area offers valuable outdoor space or future potential that is becoming rarer in mature neighbourhoods. The appeal is grounded in functionality and lot value rather than high-end finishes or grandeur.
Section 2: Frequently Asked Questions
1. How does the property’s value compare to the area?
The home’s assessed value is around average for Collegiate Street and the King Edward neighbourhood, but below the citywide average. This suggests it is priced consistently within its immediate community, which often features more character homes and varied property types.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. Buyers should inquire about the scope of work, permits, the basement’s ceiling height, and whether it includes a separate entrance or additional bedrooms.
3. Is the lack of a garage a significant drawback?
The property has no garage. For this neighbourhood and price point, this is common. Buyers should consider street parking availability, the potential to add a shed or covered parking, and their personal vehicle storage needs.
4. The home sold recently in early 2025. What does that indicate?
The quick resale could be due to many neutral factors, such as an investor flipping the property, a change in the previous owner’s circumstances, or the sale of an estate. It does not inherently indicate a problem with the property itself.
5. How does the 1984 build year affect the home?
Being built in 1984 means major systems like roofing, plumbing, and electrical are likely newer than those in pre-war homes but may be nearing or due for updates. It offers a balance between modern construction standards and the established charm of an older neighbourhood.