Property Overview: 376 King Edward Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1912, presenting a straightforward opportunity in Winnipeg’s King Edward neighborhood. Its key characteristic is its affordability, underscored by a very low assessed value that places it in the bottom 15-20% of homes on its street. With 608 square feet of living space, it is notably compact, ranking in the bottom 2-3% for size compared to citywide averages. The home features a detached garage and a full, unrenovated basement on a 2,699 sqft lot.
The primary appeal lies in its position as an entry point into homeownership or as a pragmatic investment vehicle. It suits buyers with limited capital seeking a foothold in the market, or investors looking for a low-cost rental property with minimal initial outlay. A less obvious perspective is its potential for someone seeking a "just enough" home—a minimalist or those wishing to avoid the financial and maintenance burdens of a larger, more modern property. Its age and unrenovated state mean it is not a move-in-ready showpiece, but a canvas for incremental improvement or a steady, low-overhead holding.
Section 2: Frequently Asked Questions
1. Is this a "teardown" property?
Given its age, small size, and low assessed value relative to its land, it’s a possibility some buyers may consider. However, the lot size (2,699 sqft) is below average for the street and area, which may influence redevelopment feasibility.
2. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the home’s age, compact size, and likely condition (including an unrenovated basement). It is consistent with being one of the most affordable properties in its immediate area and citywide.
3. What does "Top 98%" for Living Area mean?
This percentile ranking means the home’s living area is smaller than approximately 98% of comparable homes citywide. It is a very compact dwelling, which is a key factor in its pricing.
4. Can I get the exact historical sale prices?
The listed sale price ranges are based on public data. The exact sale prices are available by request via email from the listing service, which provides them manually without using your email for marketing.
5. What type of ongoing costs should I anticipate?
As a 114-year-old home, maintenance and repair costs should be budgeted for proactively. Heating efficiency, foundational integrity, and updating older electrical or plumbing systems are common considerations for properties of this vintage.