Property Overview & Appeal
This 1912 one-storey home in King Edward presents a classic Winnipeg character property on a generous 2,523 sqft lot. Its key appeal lies in a balance of established neighbourhood charm and solid fundamentals. The living space (703 sqft) ranks within the top 5% city-wide for its size relative to assessed value, suggesting a historically efficient valuation. While the basement exists, it is noted as unrenovated, and the property does not have a garage or pool.
The home suits a specific buyer: those seeking an entry point into a mature, centrally-located neighbourhood who are prepared for a home with original character. Its above-average lot size for the street offers future potential, whether for gardening, expansion, or simply more outdoor space than typical infill properties. The significant difference between the recent 2023 sale price and the current assessed value merits attention, indicating a market transaction that could reflect updates, unique conditions, or shifting market dynamics not yet captured in the assessment. It’s a property for a pragmatic buyer who values lot size and location over turn-key finishes, seeing the unrenovated spaces as a canvas rather than a drawback.
Frequently Asked Questions
1. What does the "unrenovated basement" typically imply?
It generally indicates original or dated conditions, likely with foundational finishes like concrete floors and exposed joists. It provides essential utility space and storage but would require investment to become finished living area.
2. The home sold recently in 2023. Why is it back on the market?
While the specific reason isn't listed, short resales can occur for many neutral reasons, such as a change in the owner's job, family circumstances, or a strategic investment flip. Reviewing the listing for any noted improvements since 2023 is advisable.
3. How significant is the lack of a garage?
This is common for homes of this era. The large lot does provide space for potential off-street parking or future construction of a garage or shed, subject to local bylaws. On-street parking is typical for the area.
4. The assessed value is lower than the 2023 sale price. What does this mean?
Municipal assessments often lag behind current market values and are calculated for tax purposes, not sale price. The sale price is a direct market indicator. The discrepancy suggests the market valued specific attributes of this property higher than the standard assessment formula did at that time.
5. The home ranks highly for lot size but lower for year built. Is this a concern?
The older build date (1912) is balanced by the premium of a larger lot in an established core neighbourhood. While older homes require diligent maintenance, they often feature durable materials and craftsmanship not found in newer builds. The lot size is a permanent asset that adds long-term value and flexibility.