Property Overview
This one-storey home at 417 Queen Street in Winnipeg's King Edward neighbourhood presents a unique value proposition centered on its land. Built in 1926, the 757 sqft house is compact and sits on a notably large 7,642 sqft lot—a standout feature that ranks in the top 2% of the local area. The home includes a renovated basement and a detached garage. Its assessed value is modest and around average for the immediate vicinity, but well below the citywide average, reflecting the home's smaller size and age.
The primary appeal lies in its potential. The lot size is a significant asset, offering rare space for expansion, gardening, or future development in an established inner-city area. It suits a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who sees beyond the current structure. This buyer values the lower property taxes associated with the assessment and is prepared to invest in updates or has a vision for utilizing the generous outdoor space. It’s a property for those who prioritize land over finished living area and view the home itself as a solid foundation to customize.
Frequently Asked Questions
1. What is the most notable feature of this property?
The lot size is the defining characteristic. At over 7,600 sqft, it is exceptionally large for the King Edward neighbourhood and offers possibilities that smaller, standard lots do not.
2. Who would this home be best suited for?
It would suit a buyer comfortable with a smaller, older home who values space and potential over move-in-ready perfection. This could include first-time buyers seeking affordability and a yard, investors looking for a property with land value, or homeowners planning a future renovation or addition.
3. How does the assessed value compare?
The assessed value is around the average for Queen Street and the King Edward area, but it ranks in the top 86% citywide, meaning it is significantly lower than most Winnipeg homes. This typically translates to relatively lower property taxes.
4. Is the house in move-in condition?
The listing notes a renovated basement, but the main house, at 100 years old and 757 sqft, will likely require updates and maintenance consistent with its age. A thorough inspection is advised to understand the condition of major systems.
5. What are the possibilities for the large lot?
While subject to local zoning, the lot offers clear potential for extensive landscaping, creating outdoor living spaces, adding a workshop or shed, or, in the long term, possibly expanding the home. It provides a rare sense of space and privacy for an inner-city property.