Property Overview: 441 King Edward Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1940, featuring a renovated basement and a detached garage. With 679 square feet of living space, it is notably smaller than most homes in Winnipeg, placing it in the top 3% for compact size city-wide. Its assessed value is modest and below the city average, reflecting its scale and age. The lot size is approximately 2,900 sqft, which is manageable and typical for its immediate street.
The primary appeal lies in its affordability and simplicity. It represents a straightforward entry point into homeownership with lower carrying costs. The renovated basement adds functional living space, a valuable upgrade in a home of this size. It would suit first-time buyers, investors seeking a rental property, or downsizers looking for a low-maintenance, cost-effective home without the burden of a large yard or excessive square footage. A thoughtful perspective is that its smaller footprint and below-average taxes could free up budget for personal customization or savings, offering financial flexibility that larger, more expensive properties do not.
Section 2: Frequently Asked Questions
1. How does the home's size compare practically?
At 679 sqft, the living area is significantly smaller than the Winnipeg average (~1,342 sqft). This indicates a efficient, compact layout best for individuals, couples, or those comfortable with cozy living spaces.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the finish or rooms. A prospective buyer should verify the quality, permits, and whether it adds legal bedrooms or simply finished recreational space.
3. Is the assessed value a reliable indicator of the selling price?
Not directly. The assessed value for municipal taxes is $20,900, but the last recorded sale (Aug 2022) was between $18.5k and $21.5k. Market conditions and demand will determine the final sale price.
4. What are the implications of the home's age (1940)?
While the structure is older, its age is around average for the King Edward neighbourhood. Buyers should pay particular attention to the condition of major systems (plumbing, electrical, roof) and the quality of the basement renovation, as upkeep is key in older homes.
5. How does the detached garage and lot size affect usability?
The detached garage provides storage or parking separate from the house. The lot, while smaller than many in the city, is average for the street and requires less maintenance, which can be a benefit for those seeking ease of upkeep.