Property Overview: 493 Queen Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1948, situated on a notably generous lot in the King Edward neighbourhood. Its primary appeal lies in the combination of a renovated basement and a land parcel that is well above average for the immediate area—over 5,400 sqft, ranking in the top 8% of King Edward. This presents a clear value in land ownership and future potential. However, the living space is modest at 659 sqft, placing it below average for similar homes locally.
The property suits practical, value-oriented buyers. It’s ideal for a first-time homeowner comfortable with a smaller footprint, an investor looking for a land-hold with a rentable dwelling, or someone planning a future expansion or rebuild who prioritizes lot size over current square footage. Its assessed value is consistent with the street and neighbourhood, suggesting it’s priced without premium or major discount in the current market. The appeal is grounded in utility and possibility rather than immediate move-in luxury.
Frequently Asked Questions
1. How does the lot size compare to others?
The land area of 5,443 sqft is a standout feature. It is significantly larger than the average lot in King Edward (~3,800 sqft), offering more outdoor space and future development potential than most properties in the neighbourhood.
2. Is the house particularly small?
Yes. With 659 sqft of living area, it is smaller than most comparable homes on Queen Street, in King Edward, and across Winnipeg. The renovated basement adds functional space, but the above-ground footprint is compact.
3. What does the "around average" assessed value indicate?
It suggests the property’s official valuation is typical for its specific street and neighbourhood. This can indicate market stability, but it’s important to note that assessed value for tax purposes doesn't always directly correlate with current market selling price.
4. Who might this property not suit?
It may not suit buyers seeking a move-in-ready home with ample above-ground living space for a growing family, or those unwilling to consider renovations or expansions to fully utilize the large lot.
5. How can I get the exact historical sale price?
The exact sold price from the last transaction is not publicly displayed. You can request it directly via the email button on the listing page. The service provides the accurate figure manually and does not use your email for unsolicited marketing.