Property Overview & Key Characteristics
This bi-level home at 247 Collegiate Street in Winnipeg's King Edward neighbourhood presents a modern offering in an area rich with character. Built in 2011, it is a notably newer construction compared to many surrounding heritage homes. Its key appeal lies in this balance: it offers contemporary living (modern systems, a renovated basement) on a generous 2,708 sqft lot within an established, central community.
The 904 sqft living area is efficient and ranks well for space in the broader Winnipeg context. Financially, the property shows solid value retention, with a sold price increase from $310k in 2020 to $360k in 2023. It suits first-time buyers or downsizers seeking a low-maintenance, modern home without sacrificing yard space, and investors attracted by its newer build and consistent appreciation in a stable neighbourhood.
A thoughtful perspective is its positioning within the streetscape. While the home itself is newer than 83% of houses on its street, it sits among much older properties, suggesting a blend of community charm with private, modern convenience. The lot size is a significant asset, offering potential for outdoor living or expansion that many newer infill properties lack.
Frequently Asked Questions
1. How does the age of this home compare to others in the area?
This home was built in 2011, making it significantly newer than the majority of homes in King Edward, which are often a century old. This means likely fewer concerns with outdated major systems.
2. The living area is 904 sqft. Is that typical?
For a bi-level in Winnipeg, this is a comfortable size. It ranks in the top half for living area within the neighbourhood and top 20% city-wide, indicating it's more spacious than many comparable properties.
3. What does the sold price history indicate?
The home sold for $310,000 in July 2020 and then $360,000 in April 2023. This appreciation suggests a strong market for well-maintained, newer homes in the area.
4. Is the assessed value a reliable indicator of the listing price?
Not directly. The assessed value for tax purposes is $33.1k, but market value is determined by recent sales. The 2023 sale at $360k is a far more relevant benchmark for current value.
5. How does the lot size impact the property's value?
The 2,708 sqft lot is a key feature, ranking in the top 18% on its street. In an area with many older, narrower lots, this provides valuable outdoor space and is a differentiator from tighter infill developments.