Property Overview & Appeal
This one-storey home at 372 Queen Street in Winnipeg's King Edward neighbourhood presents a straightforward opportunity centered on value and potential. Its key characteristic is its modest 762 sqft living area, which is smaller than most comparable homes locally and citywide. Built in 1910, it offers classic character but will likely require updates. The appeal lies in its below-average assessed value, making it an accessible entry point into the market. The lot size is a notable positive, being around average for the street and area at just over 4,000 sqft, offering good outdoor space relative to the home's footprint.
This property would suit a pragmatic first-time buyer, an investor looking for a rental property, or a hands-on individual seeking a home with clear, manageable scope for gradual renovation. Its smaller size and price point make it a candidate for those comfortable with a "right-size" home, prioritizing location and land over finished living space. A less obvious perspective is that its older age and unrenovated state provide a clean slate for energy-efficient upgrades or a personalized layout, free from the cost of removing recent but undesirable renovations.
Frequently Asked Questions
1. What is the actual selling price?
The most recent recorded sale was in August 2021, with a public price range of $21.5k to $24.5k. For the exact historical sold price, you can request it via email from the listing source.
2. What does "below average" for living area and year built mean practically?
It means the house is physically smaller and older than most homes it's compared to. You should budget for the maintenance typical of a 116-year-old home and plan your use of space efficiently, though the lot size compensates with good outdoor potential.
3. Is the basement finished?
No, the basement is noted as "not renovated." It is present but should be considered unfinished utility space unless confirmed otherwise by an inspection.
4. Who might this property not suit?
It may not suit buyers looking for a move-in-ready home, those needing multiple bedrooms or ample indoor space, or anyone unwilling to take on a property that will likely require ongoing updates and maintenance.
5. How should I interpret the assessed value rankings?
The assessed value is consistently below average for the city and area but around average for Queen Street itself. This suggests the property is priced in line with its immediate streetscape, which may consist of similar older, compact homes, but represents a value compared to wider neighbourhood or city benchmarks.