Property Overview: 245 Inglewood Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1918, is a compact and straightforward property in Winnipeg's King Edward neighbourhood. Its key appeal lies in its affordability and low ongoing tax burden, as reflected in its well-below-average assessed value. With 660 square feet of living space, it is notably smaller than most city homes, positioning it as a true starter property or a minimal-maintenance option.
The appeal here is primarily practical and financial. It suits a very specific buyer: a first-time purchaser seeking an entry point into the market, an investor looking for a low-cost rental property, or someone wanting to downsize and simplify with minimal property taxes. The lot is a standard city size, offering typical outdoor space for the area.
A less obvious perspective is that a home of this vintage and size, while requiring updates, offers a manageable canvas for renovation. Its lower price point could allow a buyer to invest in careful, phased upgrades. Additionally, its modest scale translates to very low heating and utility costs compared to larger, modern homes.
Section 2: Frequently Asked Questions
1. What is the actual likely selling price?
While the assessed value is approximately $20,100, the last recorded sale in July 2023 was between $13,500 and $16,500. The selling price is typically determined by current market conditions and the property's state, but it historically transacts well below average city home prices.
2. What does "basement, not renovated" mean?
The home has a basement, but it is in its original or utility state, not finished as living space. Buyers should budget for potential updates to essentials like wiring, plumbing, or insulation, and view the basement as functional space rather than a finished room.
3. Is the house livable in its current state?
This depends on your standards and DIY tolerance. Given its age and the note on the basement, it is likely functional but dated. A pre-purchase inspection is essential to understand the condition of critical systems like the roof, foundation, and heating.
4. Who are the typical neighbours?
The listing shows nearby properties on Inglewood Street with similar assessed values and vintage, suggesting a neighbourhood of modest, older homes. This can indicate a stable, established community without the premium prices of renovated areas.
5. Why is the living area so much smaller than average?
At 660 sq ft, this is a historically small home, common from its era. It ranks in the bottom 10% for size locally. This emphasizes its role as a compact, efficient living space rather than a family-sized home, impacting both furniture layout and resale buyer pool.