Property Overview
This one-storey home on King Edward Street is a compact, early-20th century property that presents a clear value-oriented opportunity. Its key appeal lies in its position as one of the most affordable entry points into the Winnipeg market. With a living area of 674 sqft and an unrenovated basement, it is a modest-sized home. The lot is a manageable 2,897 sqft. Built in 1912, the house is notably older than most in the city. Its assessed value is significantly below the citywide average, which is reflected in its historical sale price.
The property suits practical, budget-conscious buyers. It would be a fit for a first-time homeowner willing to take on a project over time, an investor looking for a straightforward rental property, or someone seeking minimal square footage and property taxes. Its appeal isn't in luxury or size, but in affordability and potential. A thoughtful perspective is that its below-average metrics across the board are precisely what create its accessibility, offering a chance to build equity in a well-established neighbourhood without a large initial investment.
Frequently Asked Questions
What does "below average" for living area and year built mean in practical terms?
It means this is a smaller and older home than most in Winnipeg. You're buying a historic property (1912) with compact rooms, which typically involves planning for maintenance and updates suited to an older structure.
Is the assessed value the same as the market price?
No. The assessed value (approximately $20,300) is for municipal tax purposes. The market price is determined by what a buyer is willing to pay, which can be higher, as suggested by the 2017 sale price range of $17.5k-$20.5k.
What are the implications of an unrenovated basement?
This indicates the basement is in original or utilitarian condition. It likely lacks modern finishes and may have moisture control or insulation considerations. It represents both a cost-saving on the purchase price and a potential future project.
Who would this property not suit?
It would not suit buyers looking for a move-in-ready home, those needing multiple bedrooms or ample living space, or anyone unwilling to manage the upkeep of a 114-year-old house.
How should I interpret the sold price history?
The listed price range from 2017 gives a historical benchmark. For an accurate, exact sale price to inform your offer, you need to request it directly via the provided email service, as public records often show ranges.