Property Overview: 376 Collegiate Street, Winnipeg
Key Characteristics & Appeal
This home is a classic one-and-three-quarter storey house in Winnipeg's King Edward neighbourhood, built in 1918. Its key appeal lies in being a solid, no-frills property with a functional layout. At 1,200 square feet, it offers above-average living space for both its immediate street and the broader neighbourhood, making it a relatively spacious option in its category. The property includes a detached garage and a standard city lot.
The home’s assessed value is notably below average across all comparison levels—street, neighbourhood, and citywide. This positions it as an accessible entry point into the market, likely appealing to first-time buyers, investors, or handy individuals comfortable with a property that has a basement described as "not renovated." Its charm is pragmatic: it’s a character home without premium pricing, offering room to grow and customize over time. The data suggests you are paying primarily for the usable space and location, not for modern finishes or a large plot of land.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value is based on the property’s specific characteristics, including its age, condition, and the values in its immediate area. This home’s value reflects its unrenovated state and is in line with similar, older homes in the King Edward neighbourhood.
2. What does "not renovated" for the basement imply?
This typically means the basement remains in original or dated condition. Buyers should budget for potential updates and anticipate a professional inspection to assess fundamentals like plumbing, electrical, and foundation.
3. How does the living area compare to nearby homes?
This home is actually more spacious than many in the area. Its living area ranks in the top 19% on its street and top 14% in the King Edward neighbourhood, meaning it offers more interior space than most comparable local properties.
4. Is the low sold price from 2021 relevant today?
It provides a historical benchmark, but market conditions have likely changed. It’s best used as a reference point for the property’s past value rather than a direct indicator of its current market price.
5. Who would this property suit best?
It’s ideal for a budget-conscious buyer seeking character and space over modern convenience. It suits a first-time homebuyer ready for a project, an investor looking for a rental property, or a purchaser who values the ability to gradually add equity through renovations.