Property Overview: 493 Parkview Street, Winnipeg
Key Characteristics & Appeal
This bi-level home at 493 Parkview Street is a modern, low-maintenance property in Winnipeg's King Edward neighbourhood. Built in 2015, it stands out as a notably newer construction compared to most homes on its street and in the wider city, suggesting contemporary building standards and less immediate concern for major repairs. With 913 sqft of living space and a detached garage, it offers practical, compact living.
Its primary appeal lies in its efficiency and favourable positioning within the local market. The home's assessed value ranks above average for both its immediate street and the King Edward area, indicating it is perceived as a solid asset within its community. While the lot size is smaller than the citywide average, it is typical for the area, translating to less yard upkeep. The unrenovated basement presents a blank canvas for future finishing to add liveable space.
This property would suit first-time buyers or downsizers seeking a modern, move-in-ready home without the burdens of an older structure. It’s also a prudent choice for value-conscious investors or buyers who prioritize newer mechanical systems and building envelopes over square footage, preferring to avoid the potential surprises of a century-old home.
Frequently Asked Questions
1. How does this home’s value compare to others nearby?
The assessed value of $31,600 is above the average for both Parkview Street and the broader King Edward neighbourhood, suggesting it is a higher-valued property in its immediate context despite its modest size.
2. What does the "unrenovated basement" mean?
The basement is finished but has not been recently updated. It is livable space but may have basic finishes, representing a potential opportunity for future customization or a simple, functional area as-is.
3. Is the lot size a disadvantage?
The lot is smaller than the Winnipeg average but is standard for the King Edward area. This typically means lower maintenance and lower property tax implications, which can be an advantage for those not seeking extensive outdoor space.
4. How recent is the sale price data?
The last recorded sale was in November 2017, with a price between $27,500 and $30,500. The current assessed value has increased since then, in line with market trends.
5. What are the implications of the home being built in 2015?
As a home just over a decade old, major components like the roof, windows, furnace, and appliances are likely still within their typical lifespan, offering a period of predictable operating costs compared to much older homes in the area.