Property Overview: 256 King Edward Street, Winnipeg
Key Characteristics & Appeal
This bi-level home at 256 King Edward Street presents a practical and affordable entry point into Winnipeg’s King Edward neighbourhood. Built in 1986, it is notably newer than most homes in the immediate area and across the city, which may appeal to buyers seeking a property with potentially fewer age-related concerns than the century-old homes common here.
The house itself is compact, with 784 sqft of living space, placing it below average in size for the street, neighbourhood, and city. However, it includes a renovated basement and a detached garage. Its assessed value is very modest and aligns with the local average, suggesting a relatively low property tax burden. The lot is also smaller than typical, which translates to less exterior maintenance.
The primary appeal lies in its position as a functional, no-frills home in an established area. It would suit first-time buyers, investors, or downsizers whose priority is financial accessibility and a manageable footprint over spaciousness. The recent basement renovation adds modern livable space, making the total usable area more competitive than the main floor square footage alone suggests. A thoughtful perspective is that while the stats show it as "below average" in size and land area, this directly enables its affordability and lower upkeep—a worthwhile trade-off for the right buyer.
Frequently Asked Questions
1. Is the living space too small?
At 784 sqft, the main living area is compact. However, the inclusion of a renovated basement significantly increases the total usable space, making the home more functional than the square footage alone indicates. It’s ideal for individuals, couples, or small families comfortable with efficient living.
2. How does the assessed value affect property taxes?
With an assessed value around $27k, which is typical for this specific street and neighbourhood, the property tax burden is likely to be comparatively low. This is a key factor in the home’s overall affordability.
3. What are the benefits of a 1986 build in this area?
Most surrounding homes are much older, often dating to the early 1900s. A 1986 build may offer more modern construction standards, wiring, and plumbing, potentially reducing immediate repair costs and concerns common with century-old homes.
4. What does "below average" land area mean for me?
The lot is smaller than most in the city (2,694 sqft). This means less yard to maintain, which can be a benefit for those seeking low-maintenance outdoor space. It may limit extensive gardening or large additions but simplifies upkeep.
5. Who are the most likely buyers for this property?
This home is particularly suited for first-time buyers entering the market, practical downsizers looking to reduce expenses and maintenance, or investors seeking a rental property with a stable, modest valuation in an established neighbourhood.