Property Overview: 435 Queen Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a nearly 5,000 sqft lot in King Edward presents a practical and value-oriented opportunity. Its key characteristic is a renovated basement, adding functional living space to the 1,042 sqft main floor. The detached garage offers additional storage or workshop potential.
The appeal lies in its strong positioning within its immediate context. The home ranks above average for both assessed value and year built (1976) compared to others on Queen Street and in the wider King Edward neighbourhood, suggesting it is a relatively modern and well-regarded property in that area. This makes it a sensible choice for buyers seeking a solid, move-in-ready foundation in a central Winnipeg community without the premium of a new build. It would suit first-time homeowners, downsizers looking for single-level living, or practical investors attracted by the renovated basement's income potential. A thoughtful perspective is that while its city-wide assessed value is below average, this primarily reflects the home's location value rather than its condition, highlighting an opportunity for buyers who prioritize the intrinsic quality and lot size of the property itself over a prestigious postal code.
Section 2: Frequently Asked Questions
1. What does the "above average" ranking for year built mean?
While built in 1976, this home is newer than many in the King Edward area and on its street, where comparable homes often date to the 1940s. This suggests potentially fewer issues with outdated infrastructure than much older homes.
2. Is the assessed value the same as the market price?
No. The assessed value ( $29,900 ) is for municipal tax purposes. The last recorded sold price in 2023 was between $30,500 and $33,500. Market price is determined by current conditions and buyer demand.
3. What are the implications of the renovated basement?
A renovated basement adds liveable square footage, which can be used for family space, a home office, or a separate suite (subject to city zoning and licensing). It also indicates recent investment in the property.
4. How does the lot size compare?
At 4,979 sqft, the lot is larger than the average for King Edward, offering more outdoor space than many in-fill properties. On its own street and city-wide, the lot size is around the median.
5. Why is the city-wide assessed value ranking lower?
This home's assessed value is below the Winnipeg average because assessment heavily reflects location and market area. It confirms this is a more affordable neighbourhood, not necessarily a comment on the property's condition or lot size.