Property Overview: 395 Collegiate Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in King Edward presents a straightforward opportunity centered on its land and location. Its key characteristic is a notably large lot—over 5,400 sqft—which ranks well above average for both the street and the neighbourhood. This generous outdoor space is the property's primary asset, offering potential for gardening, expansion, or simply more privacy than typical inner-city lots.
The appeal here is practical and value-oriented. The house itself is modest, with a living area below the city average and an unrenovated basement, suggesting it's best suited as a starter home, a long-term hold for a land-conscious buyer, or a project for those willing to update over time. Its assessed value is consistently average for the immediate area, indicating a stable, no-surprises entry point into the market. This property would suit a first-time buyer comfortable with a home that may need gradual improvements, an investor looking for a property with strong land value, or someone who prioritizes private outdoor space over a large interior footprint. A less obvious perspective is that a home of this size on such a large lot offers manageable upkeep costs while preserving future flexibility, a balance that can be hard to find.
Section 2: Frequently Asked Questions
1. What is the true standout feature of this property?
The land size. At 5,423 sqft, the lot is significantly larger than most in the King Edward neighbourhood, ranking in the top 12% locally. This is the core value driver.
2. What should I expect regarding the condition of the home?
The listing notes the basement is "not renovated." Buyers should budget for potential updates and plan for a thorough inspection, as the main house is also of a mature age (built in 1955).
3. How does the property's value compare to the area?
Its assessed value is very typical for King Edward and Collegiate Street, ranking near the middle. This suggests it is priced in line with area norms, not at a premium or deep discount.
4. Is the living space small for the neighbourhood?
Yes, at 796 sqft, it is below the average for comparable homes on its street. This reinforces the property's profile as a land-value play with a compact living footprint.
5. What was the recent sale history?
Public data indicates a sale in July 2023 for an estimated range of $265,000 to $295,000. For the exact sale price, you can request the information directly via the website's provided email service.