Property Overview: 387 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a standard-sized lot in the King Edward neighbourhood. Its key characteristic is its modest scale, with a living area of 588 sqft that places it among the smaller homes in the city. The basement exists but is unrenovated, and the property does not include a garage or pool.
The appeal lies in its simplicity and affordability. With an assessed value significantly below the city average, it represents a very accessible entry point into homeownership. The lot size is consistent with the local area, offering outdoor space without excessive maintenance. This property would suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking a minimal footprint. Its age suggests classic construction but also implies that updates may be needed. A thoughtful perspective is that its smaller size and lower taxes could align well with a lifestyle prioritizing financial flexibility and efficiency over space.
Section 2: Frequently Asked Questions
1. How does the home's size compare practically?
At 588 sqft, the living area is notably compact—smaller than most one-bedroom apartments. Efficient layout and design would be crucial for comfortable living.
2. What does the "unrenovated basement" typically mean?
This usually indicates a basement in its original or utility state, likely suitable for storage and housing mechanical systems but not finished as living space. It may present future potential but would require investment.
3. Is the assessed value a reliable indicator of the selling price?
Not directly. The assessed value (21.6k) is for municipal tax purposes. The actual market price is influenced by current conditions and is typically much higher, as hinted by the provided city-wide average home value and past sold price ranges for this property.
4. What are the implications of a 1918 build date?
You benefit from character and potentially sturdy materials, but should budget for age-related maintenance. Systems like wiring or plumbing may need evaluation to meet modern standards.
5. How does not having a garage affect daily life in this area?
Street parking would be the norm. It’s important to check local parking regulations and consider winter weather implications for vehicle access and warming up.