Property Overview: 296 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in the King Edward neighbourhood presents a practical and value-oriented opportunity. Its key appeal lies in its financial efficiency. With an assessed value that ranks above average for both its street and neighbourhood, the property carries a relatively modest tax burden for the area. The home itself is compact at 756 sq ft, with a renovated basement adding functional space. It’s a newer build for the area, constructed in 1978, which may appeal to those seeking a home with potentially fewer legacy maintenance issues than the neighbourhood's many century-old properties.
The appeal is grounded in simplicity and location. It suits first-time buyers seeking an affordable entry into the Winnipeg market, or investors looking for a straightforward rental property. The detached garage and a manageable 2,708 sq ft lot offer low-maintenance outdoor space. A thoughtful perspective is that this home represents a "middle ground" on its street—it’s not the oldest nor the largest, but its newer build and above-average assessment suggest it has been a stable and efficient holding in a well-established area.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 756 sq ft, the living area is below average for the city. However, it is broadly comparable to many older homes in the King Edward neighbourhood. The renovated basement significantly expands the usable space, making it practical for individuals, couples, or small families.
2. Why is the assessed value higher than many nearby homes?
The assessed value of $31.30k ranks in the top 27% on its street. This is likely due to a combination of its newer construction year (1978) compared to many neighbouring homes built in the early 1900s, and the renovated basement. It indicates the city assesses it as a higher-value asset within its immediate context.
3. What does the sold price history indicate?
Public data shows a sale in April 2017 in the $23.5k-$26.5k range. The current assessed value being higher suggests an increase in valuation over the past eight years. For an exact sale price, you can request details via the provided email service.
4. Who are the typical buyers in this area?
King Edward attracts a mix of long-term residents, first-time home buyers seeking character and affordability near central Winnipeg, and investors. This particular property, with its newer build and manageable size, would likely appeal to the latter two groups.
5. How does the lot size impact future potential?
The lot is 2,708 sq ft, which is below average for the street and city. This means extensive expansions or additions may be limited by space. However, it also translates to less yard maintenance, which can be a positive for those seeking a low-upkeep property.