Property Overview: 351 Amherst Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1912, situated on a modest lot in the King Edward neighbourhood. Its key characteristic is its exceptionally low assessed value, which ranks in the bottom 2-4% compared to homes on its street, in its area, and citywide. With 748 sqft of living space and an unfinished basement, it is a smaller, unrenovated property. The appeal lies squarely in its position as a minimal-entry point into the Winnipeg housing market. It suits a very specific buyer: those seeking an affordable footprint to customize according to their own vision and budget, or an investor looking for a straightforward rental property with a low initial cost. Its age and condition mean it is not a move-in-ready home, but rather a foundational project. A less obvious perspective is that its small size and lot can translate to very low ongoing utility and maintenance costs relative to larger properties, offering a different kind of financial efficiency beyond the purchase price.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the property's age, smaller size, unrenovated condition, and the comparative values within its immediate area. It is characteristic of a home that requires modernization.
2. What type of work should I anticipate given the home's age?
Given it was built in 1912 and is unrenovated, buyers should budget for and inspect all major systems (plumbing, electrical, heating, roof, and structure) to understand the scope of potential updates needed.
3. Is the unfinished basement a pro or a con?
This depends on the buyer's goals. It's a con for those seeking finished living space immediately. However, it is a pro for those who want the flexibility to finish it to their own specifications or who simply need utility and storage space.
4. How does the property's size compare to the neighbourhood?
At 748 sqft, the living area is below average for both Amherst Street and the broader King Edward neighbourhood, indicating it is one of the more compact homes in the area.
5. How can I find out the exact historical sold price?
The listing service provides sold price ranges based on public data. To obtain the exact sold price, you must request it via email from their service, which they provide manually without using your email for marketing.