Property Overview
This 2023-built, two-storey home at 367 Inglewood Street in Winnipeg’s King Edward neighbourhood stands out for its modern construction and above-average size. With 1,512 sqft of living space and a renovated basement, it offers a move-in-ready canvas in a well-established area. Its appeal lies in being a notably newer property in a neighbourhood of mostly older homes, providing modern efficiencies without sacrificing inner-city location. The home ranks in the top tier locally for its living area, assessed value, and recent build year.
It would suit buyers looking for a low-maintenance, modern home who want to be close to the city’s core. It’s particularly fitting for professionals or small families who value space and contemporary builds but don’t require a large yard, as the lot is more compact compared to city-wide averages. A thoughtful perspective is that this property offers a rare chance to be the first long-term owner of a new build, setting its own history in an older community.
Frequently Asked Questions
What does the “Elite” ranking mean for this property?
It means this home performs in the top 1-5% of comparable properties on its street and in the King Edward neighbourhood for key metrics like assessed value, living area, and year built. Essentially, it’s a standout property within its immediate context.
Is the sold price from 2023 the original purchase price?
Given the home was built in 2023, the sale in April 2023 for approximately $48.5k–$51.5k likely represents its first sale. This is effectively its original purchase price from the builder or developer.
Why is the assessed value so much lower than the city-wide average?
The assessed value is comparative within its own class and neighbourhood. While it ranks “Elite” for King Edward, average values in this area are significantly different from newer suburban areas or more expensive city districts, which pulls the city-wide average up.
What are the implications of having a smaller land area?
The lot is around average for Inglewood Street but below average for the wider city. This means lower exterior maintenance and potentially lower property taxes tied to land value, but it also means less private outdoor space for gardening or expansion.
Does a renovated basement mean it’s a legal suite?
Not necessarily. “Renovated” indicates it is finished to a high standard, but it does not confirm the presence of a separate entrance, kitchen, or other features required for a legal secondary suite. This would require verification.