316 King Edward Street

Property Overview

This one-and-three-quarter storey home on King Edward Street offers a practical opportunity in Winnipeg. Built in 1928, it sits on a 4,428 sqft lot and features 1,160 sqft of living space. The home has a basement, but it is noted as not renovated, and there is no garage or pool. Its assessed value is $27,700.

Key Characteristics & Appeal

The primary appeal of this property lies in its solid positioning within the immediate King Edward neighborhood. Its living space is notably above average for the street and the broader King Edward area, ranking in the top 13% and 17% respectively, which suggests a more spacious interior compared to many nearby homes. The lot size is also competitive locally. This creates a value proposition for a buyer who prioritizes more room over modern finishes, as the unrenovated basement indicates a home that is functional but awaits personalization.

It would best suit a hands-on buyer or investor comfortable with a project. The low assessed value and historical sale price point to an accessible entry point into the market, ideal for a first-time buyer willing to build sweat equity or an investor looking for a rental property with a traditional layout. The home’s age offers classic character but also implies a need for diligent maintenance and potential updates. A less obvious perspective is its appeal to those who value established, tree-lined streets over newer subdivisions; the data shows that, citywide, this home is older and has a lower assessed value than average, highlighting it as a distinctly urban, vintage option rather than a modern one.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for homes of this era. It typically means the second floor has sloped ceilings or dormers, with full-height walls only in the center of the upper rooms. It offers more space than a bungalow but often with a cozier feel than a full two-storey.

2. The assessed value seems very low compared to city-wide averages. Why?
The assessed value is for municipal tax purposes and is not the market value. Its low ranking city-wide (Top 77%) reflects the home's age, condition, and the typically lower property values in older, central neighborhoods compared to newer areas of Winnipeg.

3. Is the living space actually larger than average?
Yes, but context is key. The 1,160 sqft is above average specifically for the King Edward street and neighborhood, where many homes are more compact. City-wide, it is closer to the average, as newer homes tend to be built larger.

4. What is implied by the "basement, not renovated" note?
This indicates the basement is functional but in original or utilitarian condition. It likely lacks modern finishes and may have older mechanical systems. Buyers should budget for updates and consider a thorough inspection for moisture or foundation issues common in homes of this age.

5. How recent is the sale price history shown?
The last recorded sale was in July 2016, with a price range between $20.5k and $23.5k. This historical data is useful for trend context, but current market value would be significantly higher and determined by recent comparable sales, condition, and market dynamics.