Property Overview & Appeal
This 3-level split home at 457 King Edward Street presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its key characteristic is a generous 5,801 sqft lot, which ranks in the top 10% for the street, offering above-average outdoor space for the area. The 1,064 sqft living area is efficiently laid out and is above average for both the immediate street and the broader King Edward area. A renovated basement adds functional living space. Built in 1963, the home is of a vintage common to the area, and its assessed value is consistent with local norms.
The appeal lies in its balance of a larger-than-typical lot and a home that is competitively sized for its locale, suggesting room for gardening, play, or future expansion. It suits first-time buyers or downsizers looking for a manageable home without sacrificing yard space in an established neighbourhood. A thoughtful perspective is that while the home itself is solidly average in many city-wide metrics, its standout lot size within the local context represents a scarcity value that is not easily replicated, offering a long-term advantage.
Frequently Asked Questions
1. How does the lot size compare to nearby properties?
The lot is a key feature, ranking in the top 10% on King Edward Street and the top 6% within the wider King Edward area. It is significantly larger than the area average of 3,798 sqft, providing substantial outdoor space.
2. What is the significance of the "above average" living area ranking?
While the living area is around the city-wide average, it ranks in the top 26% for the King Edward area. This means the home offers more interior space than many direct neighbourhood comparables, which average about 952 sqft.
3. Has the property value been stable?
Public sold price data shows steady appreciation over recent years, with the last recorded sale in July 2024. Its assessed value is above average for the King Edward area, ranking in the top 20%.
4. What should I know about the home's age and condition?
Built in 1963, the home is newer than many in the King Edward area (where the average year built is 1948). The listing notes a renovated basement, indicating some updates, but a thorough inspection is recommended to understand the condition of major systems and the main living levels.
5. Are there any obvious drawbacks from the data?
The home has no garage, which is common for many older neighbourhoods but is a consideration for parking and storage. Additionally, while the living space is efficient, buyers needing substantial square footage may find it closer to a mid-size layout.