Property Overview
312 Collegiate Street is a classic one-storey home in Winnipeg's King Edward neighbourhood. Built in 1914, it offers 880 square feet of living space on a 2,708 square foot lot. The home has a basement that is noted as not being renovated, and features no garage or pool. Its assessed value is $22,400. Recent sales data shows it sold in August 2022 for an estimated $21,500–$24,500, following a prior sale in June 2017 for $13,500–$16,500.
Key Characteristics & Appeal
This home presents a straightforward, no-frills opportunity in a central neighbourhood. Its primary appeal lies in affordability and location, offering a entry point into homeownership. The house is notably older and more compact than both city and area averages, which is reflected in its price point.
It would suit a specific type of buyer: a first-time purchaser, an investor looking for a rental property, or someone seeking a modest, low-maintenance footprint. The value here is in the land and location, not in finished condition or size. A thoughtful perspective is that this property isn't competing with modern, renovated homes; it's an affordable canvas. For the right buyer, its below-average costs for taxes and upkeep could free up budget for gradual improvements or simply for living. The fact that it ranks around average for size and value within its own immediate street and neighbourhood suggests it fits the local context well, offering community fit without premium cost.
Frequently Asked Questions
1. What does "basement not renovated" mean?
This typically indicates the basement is in original or utilitarian condition, likely suited for storage and mechanical systems rather than finished living space. It may present future potential but requires inspection for moisture issues and code compliance.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's older age, smaller size, and lack of renovations compared to the broader Winnipeg market. It is, however, aligned with averages for the King Edward area, which is common for well-established, central neighbourhoods with older housing stock.
3. How can I understand the ranking metrics (e.g., Top 57%)?
These rankings compare this home against groups of similar properties. For example, "Top 57% for Living Area on Collegiate Street" means 43% of homes on the street are larger, and 57% are smaller. It's a quick way to see how the property measures up locally.
4. Is the lack of a garage a significant drawback?
This depends on lifestyle and need. Many homes in older neighbourhoods lack garages. On-street parking is common. For some buyers, this is a trade-off for location and character; for others, it may be a practical inconvenience.
5. The home sold recently in 2022. What does that indicate?
The relatively quick resale could indicate a number of things—an investor flipping the property, a change in an owner's circumstances, or a homeowner completing a minor hold. It underscores the importance of a thorough inspection and understanding what, if any, work was done during that ownership period.