Property Overview: 458 Parkview Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on Parkview Street in the King Edward neighbourhood presents a distinct value proposition centred on land and location rather than interior space. Its key characteristic is a generous 5,424 sqft lot, which is notably larger than most in the immediate area and neighbourhood. This is paired with a recently renovated basement, adding functional living space to the compact 690 sqft main floor.
The primary appeal lies in its balance of a low assessed value with above-average land ownership for the locale. It suits a specific type of buyer: those looking for an entry point into the market who value outdoor space and future potential over immediate square footage. It could be ideal for a first-time buyer comfortable with a cozy layout, an investor looking for a land-value play with rental income potential (from the basement), or someone planning a future expansion or rebuild, where the lot size is a major asset. A less obvious perspective is that its "below average" living area compared to peers translates to lower heating and maintenance costs, and its "around average" year built suggests it fits the established character of the street without being a heritage concern.
Frequently Asked Questions
1. Is the house itself particularly small?
Yes. With 690 sqft of living area above ground, the home is significantly more compact than most in Winnipeg. The renovated basement provides additional space, making the total usable area more functional.
2. Why is the assessed value relatively low compared to the city-wide average?
The assessed value reflects the property's specific attributes: a smaller, older home on a desirable lot. It ranks above average for its street and neighbourhood, indicating it's valued highly within its local context, but is below the city-wide average which includes newer, larger homes.
3. What are the main advantages of the large lot?
The lot size, which is in the top 14% on Parkview Street, offers ample outdoor space for gardens, recreation, or storage. It also provides flexibility for future projects like an addition, a new garage, or even a full redevelopment, subject to zoning.
4. How recent is the basement renovation, and what does it include?
The provided details confirm the basement is renovated but do not specify the date or scope. This is a key question to direct to the listing agent or seller for specifics on finishes, permits, and the nature of the renovation.
5. How does the sold price history help determine current value?
The home sold in September 2022 for an estimated range. This provides a recent market benchmark. However, value is also influenced by the above-average lot size and any updates since that sale, which should be factored into any current assessment.