390 Collegiate Street

Property Overview: 390 Collegiate Street, Winnipeg

Section 1: Key Characteristics & Appeal

This two-storey home, built in 2017, stands out in Winnipeg's King Edward neighbourhood for its modern age in an area of predominantly older housing stock. Its key appeal lies in offering a move-in-ready, contemporary structure without the wait or uncertainty of new construction. With 1,263 sqft of living space, it provides above-average roominess for both its immediate street and the wider neighbourhood.

The property suits buyers seeking a low-maintenance home with modern building standards, such as first-time homeowners or downsizers wanting a manageable footprint without sacrificing space. Its assessed value ranks highly in the local context, suggesting a solid investment within the community. A thoughtful perspective is the balance it strikes: you get a newer home while still benefiting from the established tree-lined character and maturity of the King Edward area, which newer subdivisions cannot immediately replicate. The detached garage adds practical utility. It's important to note the basement exists but is not renovated, presenting a clean slate for future expansion or storage, and the lot size is more compact compared to the citywide average, which translates to less yard upkeep.

Section 2: Frequently Asked Questions

1. How does the modern build year (2017) affect this home?
It typically means newer major systems (like plumbing, electrical, and insulation), potentially lower immediate repair costs, and compliance with recent building codes. This is a significant contrast to many neighbouring homes built in the early 1900s.

2. The assessed value seems low. What does that indicate?
The assessed value is for municipal tax purposes and is not a market price. Its high ranking locally indicates that, compared to nearby properties, it is valued highly by the assessor, likely due to its newer construction and size. The actual sale price will be determined by the market.

3. Who would this property not suit as well?
Buyers seeking a large yard for gardening or extensive outdoor space may find the lot size limiting. Those looking for a character home with original historic details may prefer one of the area's older, renovated properties instead.

4. What does the "basement, not renovated" status imply?
It means the basement is unfinished but functional. It offers valuable storage or mechanical space and represents potential for future living space, but any development would require a significant additional investment.

5. How does the living area compare practically?
At 1,263 sqft, it is substantially larger than the neighbourhood average (~952 sqft). This suggests more spacious room layouts than are typical in the area, a significant advantage for daily living without having to move to a distant suburb.