Property Overview: 312 Inglewood Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a classic character home opportunity in Winnipeg's King Edward neighbourhood. With 1,296 sqft of living space, it offers notably more room than most comparable homes on its street and in the immediate area. A key feature is its detached garage. The home has a basement, but it is noted as not being renovated.
The primary appeal lies in its value proposition. The home's assessed value is significantly below averages for the city and even its own neighbourhood, which could indicate an entry point for buyers comfortable with a project. Its living area is a standout positive, ranking in the top 10% locally, meaning you get more interior space than most nearby homes for a lower assessed value. The lot, while smaller than area averages at 2,517 sqft, may offer manageable upkeep.
This property would best suit a practical buyer or investor looking for a character home with clear renovation potential. It’s a candidate for those who prioritize interior square footage over a large yard and see value in a home that, while older and unrenovated, stands out in size within its local context. It may also appeal to someone interested in the long-term potential of the King Edward area, willing to invest sweat equity into a home with solid fundamentals.
Frequently Asked Questions
1. What does "not renovated" typically mean for the basement?
This usually indicates the basement retains its original or older state, likely with an unfinished or partly finished area, older utilities, and potential for moisture management or insulation updates. It represents both a project and a blank slate.
2. The assessed value seems low. Does that mean the property taxes are also low?
Generally, yes. A lower assessed value typically results in lower municipal property taxes, which can be a meaningful ongoing savings, especially for a home with above-average living space.
3. How significant is it that the living area ranks so much higher than other metrics?
It's a notable strength. It suggests the home's interior volume or layout is more generous than its peers, which isn't always the case with older homes. This disparity between spacious interiors and a lower assessed value is a core part of this property's unique profile.
4. The home is over 110 years old. What should I prioritize in an inspection?
For a home from this era, an inspection should thoroughly examine the foundation, roof structure, wiring, plumbing (likely original or older updates), and insulation. The condition of the windows, siding, and the unrenovated basement will be key areas to understand future investment needs.
5. The lot is smaller than average. Are there any advantages to that?
A smaller lot can mean significantly less maintenance in terms of landscaping, snow clearing, and general upkeep. This can be a practical advantage for busy owners or those who prefer to spend less time on yard work, making the larger interior space even more valuable.