383 Collegiate Street

Property Overview: 383 Collegiate Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in King Edward is a compact, no-frills property built in 1946. Its key characteristic is its modest scale, with a living area of 703 sqft that is notably smaller than most homes in the city, but fairly typical for its immediate neighborhood. The lot size is a solid 4,067 sqft, offering more outdoor space than many nearby properties. It features a detached garage and an unrenovated basement.

The appeal lies in its straightforward, entry-level positioning. With an assessed value that is average for its local area but below the city-wide average, it represents an accessible point of entry into the Winnipeg market. It suits practical, budget-conscious buyers such as first-time homeowners seeking a manageable footprint, or investors looking for a rental property with lower upfront costs. The generous lot for the area also presents a long-term value-add opportunity for expansion or landscaping, which is a less obvious advantage in this price segment.

Section 2: Frequently Asked Questions

1. Is the house in need of major updates?
The listing notes the basement is "not renovated," which suggests the home may require modernization. Buyers should budget for potential updates to suit their tastes and needs.

2. How does the small living space compare to the neighborhood?
At 703 sqft, the home is below the city average but aligns more closely with the smaller home sizes found in the older King Edward area. It's compact, but not an outlier on its street.

3. What does the assessed value indicate about the price?
The assessed value of approximately $25k is average for King Edward. It’s crucial to note that assessed value for tax purposes is different from market value; recent sold price data (last sale was between $13.5k-$16.5k in 2019) and current market conditions will be the primary price drivers.

4. What are the potential uses for the large lot?
The lot is over 4,000 sqft, which is above average for the street. This provides valuable extra outdoor space for gardening, recreation, or future additions like a shed or deck, and may offer more flexibility than smaller lots in the future.

5. Where can I find the exact historical sale price?
The provided sold price is a range from public data. For precise sale history, you can request the exact figures directly via the email option on the listing page.