Property Summary: 306 Amherst Street, Winnipeg
Key Characteristics & Appeal
This is a classic, one-storey home built in 1941, situated on a generous lot in the King Edward neighbourhood. With 821 sqft of living space, it is comfortably sized for the immediate area and typical for its era. The property features a detached garage and a full, unrenovated basement, presenting a clear opportunity for future expansion or customization.
Its primary appeal lies in its solid positioning within a well-established community. The lot size is notably above average for King Edward, offering more outdoor space than many neighbouring properties—a valuable asset for gardening, recreation, or future additions. While the home’s size and age are below Winnipeg’s city-wide averages, this translates to a correspondingly lower assessed value, positioning it as an accessible entry point into the housing market. The home suits first-time buyers or practical investors looking for a structurally sound property with "good bones" and the potential to add value through updates. It’s a home for someone who sees the benefit in a larger lot and a character property, and who views the unfinished basement not as a drawback, but as a blank canvas.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is typically lower than market value. The last recorded sale in 2021 was in the $30.5k-$33.5k range, which is a more relevant recent benchmark, though market conditions have likely shifted since.
2. What does the "unrenovated basement" imply?
It means the basement is in original or functional condition but has not been modernized or finished as living space. Buyers should budget for potential updates and have it inspected for moisture, insulation, and foundational integrity.
3. Is the lot size a significant advantage?
Yes. The lot is over 4,600 sqft, which ranks in the top 27% for the King Edward area. This provides more private outdoor space than most local homes and could allow for additions like a larger garage, garden, or deck, subject to zoning.
4. How does this home compare to others on the street?
It is very typical for Amherst Street. Its living area, age, and assessed value are all around the average for the street, meaning it fits right into the neighbourhood’s character and scale.
5. What is the significance of the home’s rankings?
The rankings show how this property compares to peers. For example, while its living space is average for the street, it’s smaller than most Winnipeg homes. Conversely, its lot size is larger than most in King Edward. This highlights the trade-off: you get more land but a more modestly sized house for the city overall.