Property Overview
This 1,100 sqft, one-and-three-quarter storey home on Inglewood Street in Winnipeg's King Edward neighbourhood presents a specific and practical opportunity. Built in 1918, it features a detached garage and an unrenovated basement. Its key appeal lies in its position as an affordable entry point into the market, particularly within its immediate area. The home's living space is notably above average for both Inglewood Street and the King Edward neighbourhood, suggesting a comfortable footprint relative to nearby houses. However, the lot size is smaller than most in the area, which may appeal to buyers seeking lower maintenance. The assessed value is modest, especially when viewed city-wide.
This property would best suit a first-time buyer, an investor, or a hands-on homeowner comfortable with a property that has likely been maintained but not updated. Its value proposition is rooted in location and space efficiency rather than modern finishes or a large yard. A thoughtful perspective is recognizing that a smaller lot in an established neighbourhood can mean less upkeep and closer proximity to neighbours, fostering a more community-oriented feel.
Frequently Asked Questions
What does "one-and-three-quarter storey" mean?
This is a common Winnipeg architectural style, typically featuring a full main floor and a second floor where the roofline slopes inward, reducing the square footage and ceiling height in parts of the upper level. It often creates cozy, character-filled bedrooms.
Is the low assessed value a concern?
Not necessarily. It primarily reflects the home's unrenovated condition and smaller lot size for tax purposes. It can be an advantage, indicating a potentially lower property tax burden compared to similarly sized but updated homes in the city.
How does the smaller lot size impact the property?
The lot is under 2,600 sqft, which is below average for the street and neighbourhood. This means a smaller backyard, but also less yard work and potentially lower maintenance costs. It positions the property as efficient and manageable.
The home last sold in 2016. What does that indicate?
A nine-year ownership period suggests stability and likely consistent, basic maintenance rather than speculative flipping. It implies the home has served as a practical residence for a considerable time.
What is the significance of the unrenovated basement?
This indicates the mechanical systems and foundation are exposed and in their original or older state. It presents a clear project for a buyer, allowing them to inspect everything easily and plan any updates or finishing to their own standards and budget.