Property Overview: 320 Roseberry Street, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home on Roseberry Street in the King Edward neighbourhood presents a straightforward, value-oriented opportunity. Built in 1918, its key appeal lies in its position as a modestly-sized, historically typical home for the area. With 1,034 sqft of living space and a detached garage, it sits on a smaller, manageable lot. The data suggests its primary strength is its relative affordability, with an assessed value significantly below the city-wide average. Its living space is actually above average for both its immediate street and the King Edward area, indicating a efficient use of footprint for this locale.
The home would suit a first-time buyer, an investor, or a downsizer looking for an entry point into the Winnipeg market with lower property taxes. Its appeal is practical rather than luxurious, ideal for someone comfortable with a home that has a functional, unrenovated basement and values character over modern finishes. A less obvious perspective is that its smaller lot and older age, while often seen as drawbacks, translate to lower ongoing municipal assessments and potentially less exterior maintenance than a larger, newer property. It’s a home for those who prioritize financial pragmatism and location within a established community over square footage or new construction.
Frequently Asked Questions
1. What is the true market value likely to be?
While the assessed value is approximately $23,400, market value is determined by recent sales. Historical sold price data for this property is available, but exact figures require a direct request to ensure accuracy, as public records sometimes show ranges.
2. What does "basement, not renovated" imply?
This typically indicates the basement is functional but in its original or utilitarian state. Buyers should budget for potential updates and anticipate a professional inspection to assess the foundation, moisture control, and mechanical systems.
3. How does the smaller lot size affect the property?
The lot is below average in size for the city, which generally means less yard maintenance. However, it may limit expansion possibilities or extensive landscaping. For this neighbourhood and street, it is more in line with the typical scale.
4. Is this a good investment property?
Given its below-average assessed value and location in a central neighbourhood, it could be a candidate for rental investment. The key factors would be the required renovation costs, the rental rates for similar homes in King Edward, and the current condition of major systems.
5. How does the age of the home (1918) impact ownership?
A home of this age possesses character but requires diligent upkeep. Prospective buyers should prioritize inspections for the roof, wiring, plumbing, and insulation. Its construction materials and craftsmanship are from a different era, which can be a benefit for durability or a challenge for modernization.