455 Parkview Street

Property Overview: 455 Parkview Street, Winnipeg

Section 1: Key Characteristics & Appeal

This bi-level home at 455 Parkview Street presents a practical and modern opportunity in Winnipeg's King Edward neighbourhood. Its key appeal lies in being a relatively new construction (built in 2016) within an area of mostly older homes, offering move-in readiness with a renovated basement. With 924 sqft of living space, it is comfortably sized for a small household, ranking around average for its immediate street and neighbourhood.

The property stands out for its strong assessed value relative to the area, placing in the top 13% on its street and top 11% in King Edward. This suggests it is viewed as a solid asset compared to its local peers. The lot size is standard for the neighbourhood but smaller than the city-wide average, resulting in lower maintenance. This home would suit first-time buyers or downsizers seeking a modern, low-maintenance property without a premium for extensive yard work or major renovations. It also appeals to value-focused investors or buyers who prioritize a newer building envelope and systems over square footage, seeing the advantage in a home that’s only a decade old in an established community.

Section 2: Frequently Asked Questions

1. How does the assessed value compare to recent sale prices?
The home was assessed at $34,400. It last sold in August 2022 for an estimated $41,500-$44,500, which was in the top 7% of sale prices for the street at that time. This indicates market value has historically exceeded its assessed value.

2. What does the "bi-level" design mean for living space?
A bi-level typically features a main living area accessed by a short staircase from the entrance, with a lower level partially below ground. This home includes a renovated basement, effectively adding usable living space to the 924 sqft footprint.

3. Is the property smaller than most Winnipeg homes?
Yes, in a city-wide context. Its living area ranks in the top 81%, meaning it's smaller than about 80% of comparable homes across Winnipeg. However, it is much more in line with—and even slightly above—the average size for the King Edward neighbourhood (952 sqft).

4. What are the implications of having no garage?
Parking is limited to on-street or potentially a driveway if one exists (not specified in the data). This is common for many homes in older neighbourhoods and contributes to the lower-maintenance profile but is a consideration for vehicle storage or parking convenience.

5. The home is newer than most in the area. What are the pros and cons of that?
The primary advantage is modern construction, which likely means newer major systems (roof, HVAC, wiring) and potentially better energy efficiency, reducing near-term repair costs. A less obvious consideration is that its architectural style and lot size may differ from neighbouring, older homes, which can affect streetscape character but also offers a more contemporary living layout.