Property Overview: 400 Parkview Street, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 400 Parkview Street is a modern property built in 2019, offering a renovated basement and 1,034 square feet of living space. Its standout feature is its exceptional value proposition within the established King Edward neighbourhood. While the living space and land size (2,712 sqft) are generally on par with local averages, the home’s assessed value ranks in the top 4% of the area, indicating a highly favourable municipal valuation compared to nearby properties. This suggests a well-maintained, modern home in a neighbourhood where many houses are significantly older.
The appeal lies in acquiring a contemporary, low-maintenance property without sacrificing location. It suits first-time buyers looking for a move-in-ready home without the worries of aging infrastructure, or investors attracted by the strong assessed value and modern build in a stable area. A thoughtful perspective is that this home offers a "best of both worlds" scenario: the character and maturity of the King Edward community, combined with the efficiency and modern systems of a new build, potentially translating to lower immediate repair costs and updated living standards.
Section 2: Frequently Asked Questions
1. How does the sold price history inform the current value?
The property sold in July 2024 for an estimated $43.5k to $46.5k, which was significantly above the average for the street and area at that time. This recent sale, well above the assessed value, underscores strong market demand for this modern home in the context of its neighbourhood.
2. What does the high assessed value ranking mean for me?
Ranking in the top 4% in King Edward for assessed value means the city views this property as one of the most valuable in the area. This can be a positive indicator of the property’s condition and modern amenities relative to its peers, though it’s important to note that municipal assessment and market value are calculated differently.
3. Is the land size a drawback?
At 2,712 sqft, the lot is smaller than the Winnipeg citywide average but is fairly typical for the King Edward neighbourhood. It provides a manageable outdoor space suitable for a patio or small garden, aligning with a low-maintenance lifestyle.
4. Who are the typical neighbours in terms of housing?
The nearby comparable properties are a mix of century-old homes and a few very new builds (like 447 Marjorie Street, built 2023). This indicates a neighbourhood in a subtle state of evolution, where older homes exist alongside modern infill developments.
5. What are the practical implications of the bi-level design with a renovated basement?
The bi-level layout typically offers good separation between living and sleeping areas. The renovated basement adds significant functional living space, which could serve as a family room, home office, or additional bedrooms, effectively increasing the usable area beyond the stated square footage.