Property Overview: 254 Parkview Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a standard city lot in the King Edward neighbourhood. Its key characteristic is its modest scale: at 688 sqft, the living area is notably smaller than most homes on its street, in the area, and across Winnipeg. The basement exists but is not renovated, there is no garage or pool, and the assessed value is significantly below city-wide averages. The appeal lies squarely in its position as an entry-point property. It suits a very specific buyer: someone seeking absolute minimal footprint and the lowest possible price point for a standalone house in the city. Its recent sale history suggests it functions as a true starter home or a pragmatic investment property. A less obvious perspective is that its smaller size and lot, while not for everyone, translate to lower utility costs and less maintenance—a practical advantage for a budget-conscious or time-poor owner. It’s not a home for those needing space, but rather for those valuing the autonomy of a house over an apartment, with the understanding that any future value will be tied to the land and potential for expansion.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's very modest size, age, and basic condition compared to the broader Winnipeg market, which includes many larger, newer, and renovated properties.
2. What does "basement, not renovated" typically mean?
It indicates the basement is unfinished or in original condition, likely suitable for storage or utilities but not designed as livable space without significant investment.
3. Who would this property be most suitable for?
It would best suit a first-time buyer with a very tight budget, an investor looking for a rental property with a low entry cost, or someone seeking a minimal-maintenance standalone home without needing extra space.
4. How does the lot size compare?
At just over 2,700 sqft, the lot is smaller than average for its street and the city, but is around average for the King Edward neighbourhood. This is consistent with older, central city lots.
5. The data shows it sold recently. What does that indicate?
The sale in 2022 within the $14.5k-$17.5k range confirms its status as a very low-priced property. This recent turnover suggests it is seen as a viable, no-frills asset in the market, likely purchased for its land value and fundamental shelter.