Property Overview: 298 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in King Edward is a classic, no-frills property built in 1918. Its key characteristic is affordability, underscored by a below-average assessed value and modest 752 sqft living area. The lot is a manageable 2,708 sqft and includes a detached garage. The basement is noted as unrenovated.
The appeal lies in its position as a straightforward entry point into homeownership. It suits buyers with a practical mindset, such as first-time purchasers, investors looking for a rental property, or downsizers seeking minimal upkeep. Its below-average metrics compared to the street, neighbourhood, and city suggest a lower financial barrier to entry. A thoughtful perspective is that a home of this age and size in a central neighbourhood offers the chance to add value through mindful, incremental updates rather than overwhelming renovations. It’s a canvas for a hands-on owner.
Section 2: Frequently Asked Questions
1. What does "below average" for living area and value actually mean for a buyer?
It primarily indicates a purchase price likely below the median for the area. You’re trading square footage for affordability, which can be a strategic trade-off for budget-conscious buyers.
2. The home is over 100 years old. What should I be most concerned about?
While systems like plumbing and electrical may have been updated over time, a priority should be the condition of the foundation and the unrenovated basement, as these are common areas for moisture issues or needed repairs in century-old homes.
3. How useful is the detached garage?
It provides valuable storage or workshop space separate from the house. For a small home, this can significantly reduce clutter. However, consider its condition and whether it requires any repair.
4. The sold price history shows a range from $14.5k to $17.5k in 2018. Why is that?
The listed range is an estimate from public data. To get the exact historical sale price for accurate comparison, you must request it directly from the site via email, as noted in the details.
5. Who are my likely neighbours, given the mix of old and new homes on the street?
The street has a varied streetscape, with some homes from the same era and newer builds like the referenced 247 Collegiate Street (built 2011). This can indicate a neighbourhood in a slow, natural state of change, appealing to a mix of long-term residents and new homeowners.