Property Overview: 415 King Edward Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a compact, one-storey home built in 1912, offering a classic Winnipeg character. Its key features include a renovated basement and a detached garage. With a living space of 700 sqft, it is notably smaller than most homes in the city, ranking in the top 96% for compactness (meaning only 4% of city homes are smaller). The assessed value is modest at $18,800, placing it well below city averages. The lot size of 2,897 sqft is fairly typical for its immediate street and neighborhood.
The primary appeal lies in its affordability and efficiency. It represents a very low entry point into homeownership, particularly for the King Edward area. The renovated basement adds functional living space, which is a significant asset in a smaller home. It would suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance lifestyle without a large mortgage. A thoughtful perspective is that a home of this size and age on a standard lot offers potential for future expansion or redevelopment, presenting a long-term value play beyond its current assessed state.
Frequently Asked Questions
1. Is the house in good condition given its age?
The listing notes a renovated basement, which suggests some updates. However, as a home built in 1912, a thorough inspection is essential to understand the condition of major systems like plumbing, electrical, and the foundation.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's compact size (700 sqft), its age, and its market position as a modest, entry-level home. It is assessed in line with similar, smaller properties in the area.
3. What are the possibilities for adding space or renovating?
The lot size is standard for the area, providing potential for additions or a future rebuild, subject to local zoning bylaws. The existing renovated basement already adds usable space to the footprint.
4. How accurate are the sold price ranges shown?
The provided sold price history from 2016 is a range based on public data. For the exact historical sale price, you must request it directly via the email service described on the page.
5. Who would this property not suit?
It would likely not suit a growing family needing multiple bedrooms or someone desiring ample indoor living space, as it is significantly smaller than the typical Winnipeg home. Those preferring modern builds or unwilling to manage the upkeep of a century-old home may also want to consider other options.