Property Overview: 309 Brooklyn Street, Winnipeg
Key Characteristics & Buyer Profile
This is a compact, one-and-a-half storey home built in 1922, offering 910 square feet of living space on a modest 2,294 sqft lot in the King Edward neighborhood. Its key appeal lies in its position as an accessible entry point into the Winnipeg market. The home presents a straightforward, no-frills opportunity: it has a basement (unrenovated) and no garage, keeping the footprint simple and the potential maintenance responsibilities relatively contained.
The property suits a specific type of buyer. It’s ideal for a first-time homebuyer, an investor, or someone looking for a minimal footprint who is comfortable with a home that requires updates. Its assessed value is notably below averages for the street, neighborhood, and city, which can signal an opportunity for value addition but also suggests the condition may be basic. A thoughtful perspective is that the very compact lot size, while below area averages, translates to minimal exterior upkeep, which could be a benefit for someone seeking a low-maintenance property without condo fees. The home’s living area is fairly typical for older homes on its street, meaning it fits the local character but offers less space than the Winnipeg average.
Frequently Asked Questions
1. What does the assessed value tell me about this property?
The assessed value is significantly below the averages for the street, neighborhood, and city-wide. This typically indicates either a smaller, simpler home in its current condition or one that may require modernization. It’s a starting point for understanding its position in the market, not a sale price.
2. How does the living space compare to nearby homes?
At 910 sqft, it’s close to the average for both Brooklyn Street (~930 sqft) and the King Edward neighborhood (~952 sqft). However, it is considerably smaller than the city-wide average for homes, which is over 1,300 sqft. This confirms it’s a characteristically smaller, older urban home.
3. Is the lot size a disadvantage?
The lot is smaller than most in the immediate area and city. While this means less private outdoor space, it also suggests lower maintenance for yard work and potentially lower property taxes tied to land value. It reflects the dense, established nature of the neighborhood.
4. What can the sale history from 2016 indicate?
The last known sale was between $15.5k and $18.5k in late 2016. This historical data shows the property’s price trajectory was very low several years ago, highlighting its long-standing role as an entry-level property. The current assessed value has risen slightly from that range.
5. Who are the most likely buyers for this home?
This property is most suited to practical buyers looking for a foothold in the market. This includes first-time buyers willing to take on a project, investors seeking a rental property with a lower entry cost, or downsizers looking for a truly compact living arrangement without the structure of a condo.