Property Overview: 274 Roseberry Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a modest lot in the King Edward neighbourhood. Its key characteristics are its affordability and straightforward footprint, with 762 sqft of living space and an unfinished basement offering potential. The home's assessed value is significantly below city-wide averages, positioning it as an entry-level opportunity.
The primary appeal lies in its value proposition for a specific buyer. It suits a first-time homebuyer, an investor looking for a rental property, or someone seeking a minimalist footprint without a large mortgage. Its smaller size can mean lower utility costs and less maintenance. A thoughtful perspective is that a home of this age and scale in a central area offers a chance to put down roots in the city without the premium price of a larger or renovated property, allowing the owner to build equity over time. It’s a practical choice over a long-term rental, but it requires a buyer comfortable with a home that is below average in size and condition for the area.
Section 2: Frequently Asked Questions
1. What is the actual likely selling price?
The assessed value is a municipal figure for tax purposes and is not a market price. The last recorded sale was in 2016 for a price between $10.5k and $13.5k. The current market value would be determined by recent neighbourhood sales, condition, and demand.
2. What should I budget for immediately?
Given the age of the home and the note that the basement is "not renovated," you should budget for essential systems updates (like plumbing or electrical) and consider moisture management in the basement. The roof and foundation should also be professionally inspected due to the home's age.
3. Is there potential to expand this home?
The lot is smaller than most in the area (2,708 sqft), which may limit possibilities for large additions or garages. Any expansion would likely need to focus on renovating and finishing the existing interior space and basement.
4. Who are the typical neighbours?
The nearby comparable properties range from similar century-old, smaller homes to newer builds (like those on Collegiate Street from 2011 and 2020). This suggests a neighbourhood in a state of gradual change, with a mix of long-term residents and newer infill developments.
5. Why is the city-wide average assessed value so much higher?
The $390k city-wide average includes all types of homes, including large, new suburban properties. This home's assessed value is more aligned with its specific peer group of smaller, older homes, highlighting its position as a more affordable option in the market.