Property Overview
This one-storey home at 339 Amherst Street in Winnipeg's King Edward neighbourhood presents a specific and practical value proposition. Its key appeal lies not in its size, but in its efficient use of space and the potential inherent in its lot. With a modest 654 sqft of living area, the home is significantly smaller than average for the street, neighbourhood, and city, placing it in the top 6% for compactness citywide. This is balanced by a renovated basement and an above-average land area of 4,698 sqft for the area, offering valuable outdoor space. The assessed value is notably below the citywide average, suggesting an accessible entry point.
The property suits buyers prioritizing lot size and location over interior square footage. It’s a practical fit for a first-time buyer comfortable with a cozy layout, an investor looking for a land-value play with a rentable basement, or someone seeking a lower-maintenance home with room for a garden, shed, or future expansion. Its below-average price for the city, coupled with an in-demand lot size for the immediate area, creates a unique trade-off.
Frequently Asked Questions
1. Is the house too small for comfortable living?
At 654 sqft, the living area is compact. Its suitability depends entirely on lifestyle. It would be a tight fit for a family but could work well for a single person, a couple, or someone who views the home primarily as a comfortable base, valuing the large yard over a large interior.
2. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the property's specific characteristics: its smaller size, older age (built 1941), and neighbourhood. It's actually around average for the King Edward area, indicating this is a typical price point for the locale, not an outlier.
3. What does "top 94%" for living area actually mean?
This percentile ranking means the home's living area is larger than only 6% of comparable homes citywide. In simpler terms, it is among the smallest 6% of homes in Winnipeg, confirming its compact nature. On its own street, it ranks 121st out of 129 homes for size.
4. What are the advantages of such a large lot for a small house?
The above-average lot is the property's standout feature. It offers privacy, space for recreation, gardening, or pets, and future potential. For the right buyer, this outdoor space significantly enhances livability and represents long-term value that the interior square footage does not.
5. What is included in the "renovated basement"?
The listing notes a renovated basement but does not specify the scope. This could range from updated finishes to a fully legal secondary suite. A key next step would be to determine the basement's condition, ceiling height, legal egress, and whether any renovations were permitted, as this significantly impacts the home's utility and value.