Property Overview: 387 Inglewood Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home, built in 2021, stands out for its modern foundation in the established King Edward neighbourhood. Its primary appeal lies in being a notably recent and well-sized construction for the area. With 1,480 sqft of living space and a renovated basement, it offers contemporary comfort and space that is rare on its street and in the wider community, where homes are typically much older and smaller.
The data reveals a compelling contrast: this property ranks in the elite top 2-4% locally for its living area, assessed value, and newness, but sits on a relatively modest, average-sized city lot. This positions it as a "best of both worlds" option—delivering a modern, low-maintenance home without the extensive yard upkeep of a larger plot. It would perfectly suit buyers seeking a turn-key, newer build in a central location, particularly those downsizing from a larger property who still desire generous indoor space, or young families wanting a move-in-ready home without the surprises of an older structure. Its detached garage adds practical storage or workshop space, completing a package focused on interior quality and convenience over expansive outdoor land.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average home value?
The assessed value is a municipal calculation for tax purposes and is heavily influenced by the property's location and the values of surrounding homes. In this neighbourhood, assessed values are consistently lower across the board. It does not directly reflect potential market price, which would be influenced by the home's modern features and condition.
2. The home sold for between $6.5k and $9.5k in 2016. Is that correct?
Yes, but that sale almost certainly refers to the vacant land before the current house was built in 2021. The price reflects the lot value at that time, not the value of the existing structure.
3. How does the smaller lot size impact living here?
The lot is efficient, requiring less maintenance than larger city plots. This is often seen as a benefit for those seeking a lower-maintenance lifestyle. However, it may limit options for large additions, pools, or extensive landscaping compared to properties on bigger lots.
4. What does it mean that the home ranks "elite" locally but "around average" city-wide for living space?
This highlights the character of the King Edward area, which consists of many smaller, older homes. This property offers significantly more modern interior space than its immediate neighbours, making it a standout locally. The city-wide average includes many newer suburban homes, which is why it compares as average in that broader context.
5. Is the detached garage a standard feature for homes here?
Given the age of most homes in the area and the lot sizes, a detached garage of this kind is not a standard feature. It is a valuable asset that provides secure parking and extra storage, adding practical utility that many neighbouring properties may lack.