Property Overview: 288 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1918, presents a practical and renovated living space in Winnipeg's King Edward neighbourhood. With 828 square feet of living area and a recently updated basement, it offers a manageable footprint for a small household or first-time buyer. Its assessed value of $230k positions it as an accessible entry point into the market, especially when compared to city-wide averages.
The appeal lies in its neighbourhood context. Within the King Edward area and on Collegiate Street itself, the home's size and value are squarely around average, meaning it fits comfortably within the local fabric without overextending financially. The lot, while smaller than area averages at 2,708 sqft, reduces maintenance responsibilities. This property suits buyers looking for a straightforward, renovated character home without the scale or price of a larger modern build. It would particularly resonate with those who value a sense of community in an established neighbourhood over maximizing square footage, and who see the benefit in a home that is competitive within its immediate locale rather than the broader city.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to recent sales on the street?
Based on available data, a comparable home at 306 Collegiate Street (also built in 1918, slightly smaller) sold for between $215k and $245k in late 2020. This suggests 288 Collegiate Street's current assessment is in a similar range, though market conditions have likely shifted since.
2. Is the smaller lot size a significant disadvantage?
It depends on your priorities. The lot is below the average size for both the street and neighbourhood, which means less yard space for gardening or expansion. However, this also translates to less upkeep, lower landscaping costs, and a potentially more compact, community-oriented streetscape.
3. What does "around average" for the neighbourhood really mean for me?
It indicates this home is typical for King Edward in terms of size, value, and age. You are not overpaying for premium features nor buying a standout fixer-upper compared to your immediate neighbours. This can provide stability and predictability.
4. The home is over 100 years old. What should I be concerned about?
While the basement has been renovated, the core structure is from 1918. A thorough inspection is essential to understand the condition of foundational elements, the roof, original wiring, and plumbing, which may not be reflected in the assessment.
5. Who are the most likely neighbours or comparable buyers?
Given its profile, likely neighbours include long-time residents in similar character homes and newer owners attracted to the area's established feel. The most comparable buyers would be individuals, couples, or small families seeking an affordable, low-maintenance entry into an inner-city neighbourhood without requiring a large or newly built property.