Property Overview: 262 Parkview Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on Parkview Street in the King Edward neighbourhood presents a straightforward, entry-level opportunity. Built in 1918, its 960 sqft living area and unrenovated basement reflect its vintage character. The lot is modest at 2,709 sqft, and the property includes a detached garage.
Its primary appeal lies in its positioning as a manageable and affordable property within a central Winnipeg community. The assessed value is notably low and consistent with nearby sale prices from late 2021, suggesting a potentially accessible price point. For its immediate street and neighbourhood, the home's size, value, and age are all around the local average, meaning it fits comfortably within the context of King Edward. However, compared to the wider city, it offers a smaller footprint on a smaller lot, which translates to lower ongoing costs and maintenance.
This property would best suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist footprint. It’s a practical choice for those who value location and affordability over modern finishes or ample space, and who are prepared for the realities of an older home. A thoughtful perspective is that its "average" standing within King Edward could signal stability and reduce the risk of over-improvement for the area, while the compact lot offers less yard upkeep.
Section 2: Frequently Asked Questions
1. What is the likely price range for this home?
Based on the last recorded sale in late 2021 (between $27.5k and $30.5k) and its current assessed value of $27.4k, it is positioned in Winnipeg's more affordable market segment. Any listing price would likely be influenced by its condition and current market trends.
2. What should I know about the "unrenovated basement"?
This typically indicates the basement is in original or functional condition but may lack modern finishes. It’s crucial to investigate for moisture issues, insulation, wiring, and the state of mechanical systems, common considerations in century-old homes.
3. How does the small lot size impact the property?
The lot is below average in size for both the street and the city. This means lower exterior maintenance but also limited potential for expansions or additions. It emphasizes the home's role as a compact, efficient living space rather than one for extensive outdoor living or gardening.
4. Is King Edward a good neighbourhood?
The data shows the home is typical for King Edward, suggesting it's an established, consistent area. As with any neighbourhood, prospective buyers should visit at different times, check local amenities, and review community plans to see if it aligns with their lifestyle.
5. Why is there such a big difference between the city-wide average assessed value and this home's value?
The city-wide average (shown as ~$390k) is skewed by newer, larger homes in suburban areas. This home’s value is much more aligned with the older, central core of Winnipeg, highlighting the significant variation in property types and values across the city.