Property Overview: 309 King Edward Street
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1912, situated on a decent-sized lot in Winnipeg's King Edward neighborhood. Its key appeal lies in its position as an accessible entry point into homeownership. With a living area of 724 sq ft and an unrenovated basement, it is a smaller, no-frills property. The detached garage and a land area that is above average for the city are practical assets.
The home’s assessed value is notably below averages for the street, neighborhood, and city, indicating a potentially lower purchase price and property tax burden. This creates an opportunity for a buyer willing to invest sweat equity over time. It would best suit a first-time buyer, an investor looking for a straightforward rental, or someone seeking a minimalist footprint. Its age and condition suggest it is not a move-in-ready showhome, but a solid project base. A thoughtful perspective is that its smaller size and lower costs could offer financial flexibility and a simpler lifestyle, contrasting with the maintenance demands of larger, newer homes.
Section 2: Frequently Asked Questions
1. What does the "below average" ranking for living area really mean?
At 724 sq ft, the home's living space is smaller than most comparable properties in Winnipeg. This is a key factor in its lower assessed value and suggests a cozy, efficient layout rather than a spacious one.
2. How significant is the 1912 build date?
The age indicates classic construction but also means potential for older systems (like plumbing or wiring) and a need for updates. The unrenovated basement is consistent with a home of this vintage.
3. Is the land size a positive feature?
Yes. While the house is small, the lot is over 4,150 sq ft, which is above the citywide average. This provides valuable outdoor space and future potential, such as gardening or expansion, subject to zoning.
4. Who would this property not suit?
It would likely not suit buyers seeking a modern, turn-key home, those needing multiple bedrooms or ample living space, or anyone unable to handle gradual renovations or maintenance inherent to an older house.
5. How should I interpret the assessed value compared to market price?
The assessed value ($19,500) is for municipal tax purposes and is typically far below market value. A sale price will be determined by current market conditions, demand for the area, and the home's condition.