Property Overview
383 Inglewood Street is a compact, one-storey home in Winnipeg's King Edward neighbourhood. Its primary appeal lies in being a modest, renovated starter home or investment property in a central location. At 740 sqft with a renovated basement, it offers functional living space on a standard city lot. The home is notably newer than many in the immediate area, built in 1971 compared to neighbourhood averages from the early 1940s. This suggests potentially fewer concerns with outdated major systems common in century-old homes. Its assessed value is very low compared to the city-wide average, indicating a lower property tax burden and an accessible entry point into the market.
This property would suit first-time buyers seeking a foothold in the city, practical downsizers looking for minimal upkeep, or investors searching for a rental property with a manageable overhead. Its below-average size and value for Winnipeg mean it’s not for those needing ample space, but it represents a pragmatic choice for budget-conscious buyers. A less obvious perspective is that its "average" metrics within its own street and neighbourhood context indicate it’s a typical property for the block, which can mean stable, predictable value without the premium or the steep discounts of more outlier properties.
Frequently Asked Questions
1. Is the low assessed value a concern?
Not necessarily. The assessed value is close to the average for Inglewood Street and King Edward, but is far below the Winnipeg average. This primarily results from the home's smaller size and reflects a proportionally lower property tax bill, which can be an advantage.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the permits, finish quality, and whether it includes a separate entrance or rental suite potential.
3. How does the 1971 build year compare to nearby homes?
The home is significantly newer than most in King Edward, where comparable homes average a build year of 1948. This can be a positive, suggesting newer wiring, plumbing, and structure than many heritage-area homes.
4. What are the implications of the smaller living area?
At 740 sqft, the living space is below average for the street, neighbourhood, and city. This confirms it's a compact home. The renovated basement is crucial for adding functional space, so understanding its layout is key.
5. There's a recent sold price shown from 2020. Is that relevant?
The sold price range from late 2020 (15.5k–18.5k) is a historical data point. Given market changes and the home's assessed value of 23.80k, the current market value would be determined by recent comparable sales, conditions, and any further updates made since 2020.