262 Brooklyn Street

Property Overview

262 Brooklyn Street is a compact, one-and-three-quarter storey home built in 1918, situated in Winnipeg's King Edward neighbourhood. With 776 square feet of living space and an unrenovated basement, it sits on a 2,397 sqft lot. The home presents a straightforward, no-frills opportunity in the market.

Key Characteristics & Appeal

This property’s primary appeal lies in its position as an accessible entry point into homeownership. Its assessed value is notably below averages for the street, neighbourhood, and city, suggesting a lower property tax burden and a potentially lower purchase price. The lot size is typical for Brooklyn Street but smaller than most in the wider area, emphasizing a low-maintenance footprint.

It would suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist living situation without the upkeep of a larger home or yard. Its age means it has historic character but also implies that maintenance and potential updates should be factored into any plans. A thoughtful perspective is that this home offers a chance to build equity in a central location without a large initial financial outlay, but it requires a buyer comfortable with a project or a home in as-is condition.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Assessed value is for municipal tax purposes and is influenced by the home's size, age, condition, and recent sales in the area. This home's modest size and unrenovated state contribute to its lower assessment compared to newer or larger city-wide averages.

2. What does "one & 3/4 storey" mean for the layout?
This style typically features a main floor and a second floor where the ceilings slope with the roofline, often creating cozy bedrooms with limited full-height wall space. It's a classic design for homes of this era.

3. Is the unrenovated basement finished or usable for storage?
The listing specifies it is "not renovated," which generally means it is in a rough, unfinished state (concrete floors, exposed beams). It would be suitable for mechanical systems and storage but not as living space without significant work.

4. How does the sold price history help determine current value?
The last known sale was between $13.5k and $16.5k in early 2019. This provides a historical benchmark, but current market conditions, interest rates, and the property's present state will determine its value today.

5. What are the practical implications of the smaller lot size?
The lot is manageable for basic outdoor space but offers limited room for expansions like a large addition or garage. This can be a positive for those wanting less yard work, but a constraint for those desiring extensive outdoor living or parking space.