Property Overview: 407 Roseberry Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a unique opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its value proposition and potential. With 1,266 sqft of living space, it offers above-average roominess for both its immediate street and the broader neighbourhood. However, its standout feature is its exceptionally low municipal assessed value of $15,900, which is among the lowest in the city. This indicates a property likely in need of significant updating, as it has a non-renovated basement and no garage.
The home suits specific buyer profiles perfectly. It is an ideal project for an investor or handy homeowner looking for a canvas to renovate to their own taste, with the lot size (2,712 sqft) providing average outdoor space for the area. It also represents a potential entry point into homeownership for a budget-conscious buyer willing to live with or gradually improve its condition. The charm here isn't in move-in readiness, but in the possibility it holds and the statistical rarity of finding a house with this much living space at such a low official valuation.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical homes?
Municipal assessments are based on factors like market value, condition, and characteristics. A value this far below area and city averages strongly suggests the home requires major repairs or updates, which is reflected in the assessment.
2. What does "one & 1/2 storey" mean for this house?
This is a common Winnipeg architectural style, typically featuring a main floor and a second floor with sloped ceilings (under the roofline), often in finished attic spaces. It maximizes space within a classic design.
3. Is the low assessment good for property taxes?
Yes, property taxes are calculated based on the assessed value. A lower assessment generally results in lower municipal tax bills, which can be a significant ongoing saving, especially during a renovation period.
4. What should I consider given the home's age (1914)?
While offering classic character, a home from this era may have outdated plumbing, electrical, insulation, and require foundation or structural attention. A thorough pre-purchase inspection is essential to understand the scope and priority of needed work.
5. How does the living area compare practically?
At 1,266 sqft, it is notably larger than many neighbouring homes (which average ~963 sqft on the street). This means you're getting more interior space than most nearby properties, which could be a strategic advantage once renovated.