Property Overview: 433 Parkview Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on Parkview Street in the King Edward neighbourhood presents a straightforward, entry-level opportunity. Its key characteristics include a 862 sqft living area, an unfinished basement, no garage, and a lot size of just over 2,700 sqft. Built in 1914, it is notably older than most homes in the city.
The appeal lies in its accessibility. With an assessed value significantly below the city average, it represents one of the more affordable homeownership paths in Winnipeg. Its living space is practical for the area and street, making it a sensible footprint for a small household. The lot, while smaller than the city norm, is average for the local context, offering manageable outdoor space without excessive upkeep.
This property would best suit first-time buyers or investors seeking a low-entry-cost property. It’s a home for those comfortable with a vintage structure (112 years old) who see potential in its unfinished basement for future storage or expansion. It’s not for those seeking modern finishes or ample square footage, but rather for pragmatic buyers who value location and affordability over size or newness. A thoughtful perspective is that its below-average metrics across the city might offer a measure of insulation from property tax increases tied to soaring market values.
Section 2: Frequently Asked Questions
1. What is the actual recent sale price?
The available public data indicates a sale occurred in December 2020 for an estimated range of $18.5k to $21.5k. For the precise sale price, you can request the exact history via email from the listing source.
2. How does this home compare to others in the area?
Within the King Edward neighbourhood, the home’s living area is around average, but its assessed value is below average. This suggests it may be viewed as a more modest offering compared to others nearby. The lot size is also typical for the area.
3. What should I consider about the age of the home?
Built in 1914, the home is older than approximately 90% of properties citywide. Prospective buyers should budget for potential maintenance or systems updates consistent with a home of this vintage. An inspection is highly recommended.
4. Is there potential to add value?
The unfinished basement presents the most immediate opportunity for added functional space. The lot, while not large, is standard for the street and could be enhanced with landscaping. Given the low assessed value, careful renovations could improve livability without over-capitalizing for the area.
5. Why is the assessed value so much lower than the city average?
The assessed value of $190k is in the bottom tier citywide, reflecting the home’s smaller size, older age, and lack of renovations compared to the broader Winnipeg market. This is a key factor in its affordability.