Property Overview & Key Characteristics
This 1918 one-storey home in King Edward sits on a generous 2,708 sqft lot, which is notably larger than most in Winnipeg. With 740 sqft of living space, the house itself is compact and retains its original character, including an unrenovated basement. There is no garage or pool. Its assessed value is significantly higher than its last sale price in 2019, suggesting official recognition of the lot's value or potential. The appeal here is rooted in land value, location, and opportunity. It suits a buyer looking for a character home on a sizable lot in a central neighbourhood, willing to take on updates over time. It’s particularly well-suited for a long-term holder who values outdoor space in the city or an investor who recognizes the underlying land value in a mature area. A less obvious perspective is that this property represents a "blank canvas" within an established community—its worth is tied more to its position and parcel than to its current finishes.
Frequently Asked Questions
1. Why is the assessed value so much higher than the 2019 sale price?
The sharp increase likely reflects a rising market and a municipal assessment that places significant value on the property's large lot size and location, rather than the condition of the home itself.
2. What does "unrenovated basement" typically imply?
It generally means the basement is in original condition, likely with older utilities, foundational finishes, and possibly lower ceilings. It presents both a downside in immediate livability and an upside as a clear renovation opportunity.
3. Who would this property not be a good fit for?
It would not suit buyers seeking a move-in-ready, modern home with ample indoor space and amenities like a garage. It also may not fit those unwilling to manage the maintenance or potential updates of a century-old house.
4. How does the lot size compare to nearby properties?
At 2,708 sqft, the lot is in the top 18% for size on its street and the top 7% in all of Winnipeg, making it a standout feature compared to many city lots.
5. Is the King Edward neighbourhood considered desirable?
King Edward is a mature, central Winnipeg neighbourhood. The property ranks in the top 29% for lot size within the area, indicating it's on the larger end for a desirable, established community.