Property Overview: 324 Parkview Street, Winnipeg
Key Characteristics & Buyer Appeal
This is a compact, one-storey home built in 1918 on a standard city lot in the King Edward neighbourhood. Its key characteristic is its exceptionally low municipal assessed value, which is in the bottom 3% citywide. The 840 sqft living area is modest, ranking below average for its street and the city, and the basement is noted as unrenovated. The home includes a detached garage.
The primary appeal lies in its position as a true entry-point into homeownership or as a strategic holding property. The very low taxes, resulting from the low assessment, are a significant, ongoing financial benefit. This property suits a pragmatic, hands-on buyer—perhaps a first-time purchaser willing to live simply while building equity, or an investor looking for a low-cost asset with renovation potential. Its value is not in its current condition or size, but in the opportunity it represents: a chance to secure a land title in the city with minimal carrying costs, providing time and flexibility for future plans.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Municipal assessments are based on a mass appraisal system considering factors like size, age, condition, and recent sales of comparable properties. This home’s modest size, age, and unrenovated state result in an assessment focused on its current utility, not its potential or land value alone.
2. What does "Top 98%" for the assessed value ranking mean?
This statistic means the home’s assessed value is higher than only 2% of comparable properties on its street (or 3% citywide). In simpler terms, it is in the bottom 2-3% for assessed value, which directly correlates to having some of the lowest property taxes in the comparison group.
3. Is the sold price history reliable?
The listed sold price is a range based on public data. For the exact historical sale price, you must request it directly via the provided email service, which manually verifies the land title records.
4. What should I consider about a home from 1918?
While the building age is around average for the King Edward area, a home from this era will likely require updates to mechanical systems (like wiring and plumbing) and insulation. The unrenovated basement suggests all improvements would be the responsibility of the new owner.
5. How useful are the comparisons to nearby and similar-value properties?
The nearby listings (e.g., 322, 328 Parkview) are useful for understanding the immediate streetscape. The "similar assessed value" properties, however, may be in different neighbourhoods and building types (like condos), highlighting that a low assessment is this home's standout trait, not its location or style.