Property Overview: 331 King Edward Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1910, offering a classic character in a mature Winnipeg neighbourhood. With 821 square feet of living space and a renovated basement, it presents a practical footprint for efficient living. The assessed value of $250k positions it as an accessible entry point within its local area, ranking around average for King Edward Street but below the city-wide average, which may indicate value relative to the broader market.
The primary appeal lies in its location and simplicity. It suits first-time buyers, downsizers, or investors seeking a straightforward property without the premium for extra space or modern construction. A thoughtful perspective is its lot size: at just under 2,900 sqft, the land is smaller than many in the area, which translates to lower maintenance but less private outdoor space. This home represents a trade-off—it offers historic charm and neighbourhood integration at the cost of modern square footage and larger yard amenities. Its recent sale history suggests it is a transacted, active part of the local market.
Section 2: Frequently Asked Questions
1. How does the age of the home (1910) affect it?
While it adds character, it also means potential systems (like plumbing or electrical, unless updated) may be older than in post-war homes. It ranks in the oldest ~7% of homes in the local area, so a thorough inspection is advisable.
2. Is the living space sufficient for a small family?
At 821 sqft, it is compact. It ranks around average for the street but is significantly smaller than the typical Winnipeg home (~1,342 sqft). It would suit a couple, a single individual, or a very small family comfortable with efficient use of space, aided by the additional renovated basement area.
3. What does the assessed value tell me about the price?
The $250k assessment is a municipal valuation for tax purposes, not a market price. However, it indicates the home is valued around the middle of the pack for King Edward Street, potentially suggesting a more affordable point compared to many city neighbourhoods.
4. The lot seems smaller than others on the street. Is that a concern?
The lot is about half the size of the average lot on King Edward Street. This means less yard work and potentially lower exterior maintenance costs, but also limited potential for expansions like a large addition or garage, and less private outdoor recreation space.
5. Where can I find the exact past sale price?
The listing service provides an estimated sold price range from past transactions. To obtain the precise sale price from the last transaction, you must request it directly via the provided email button, as this data is not publicly displayed in detail.