Property Overview
This 1954-built, one-storey home at 501 Parkview Street in Winnipeg's King Edward neighbourhood presents a practical and value-conscious opportunity. Its key appeal lies in a balanced offering of space, location, and potential. The home features 902 sqft of living space and a renovated basement, situated on a notably larger-than-average lot for the area at 5,208 sqft, complete with a detached garage. While the living space is modest citywide, it is competitive within the immediate neighbourhood and street context. The home’s assessed value positions it as an above-average offering in King Edward, suggesting a solid foundation for the price point. It last sold in early 2020.
Key Characteristics & Ideal Buyer
The property’s primary strengths are its generous lot size, which offers rare outdoor space and potential for expansion or gardening in this established area, and the updated basement adding functional living space. Its appeal is grounded in practicality rather than luxury, suiting first-time homebuyers, downsizers looking for single-level living, or investors seeking a character home with a stable rental history in a central neighbourhood. A thoughtful perspective is that while the home itself is average in size for the street, the lot is a standout asset, offering a tangible piece of land that is increasingly scarce. It suits a buyer comfortable with the maintenance of an older home but appreciative of having major interior renovation work (the basement) already addressed.
Frequently Asked Questions
1. How does the home’s size compare to the area?
At 902 sqft, the living area is very close to the average for both Parkview Street and the wider King Edward neighbourhood, making it a typical, comfortable size for the community.
2. What does the assessed value ranking indicate?
The assessment is above average for King Edward (top 30%), which often reflects the property’s condition, improvements like the renovated basement, and its desirable lot size relative to nearby homes.
3. Is the larger lot a significant advantage?
Yes. The lot is over 5,200 sqft, ranking in the top 17% for size in King Edward. This provides more private outdoor space than most neighbours and could be a long-term asset for enjoyment or future property value.
4. What should I know about the home’s age?
Built in 1954, the home is of a typical vintage for the area. Buyers should focus on the condition of major aging components, such as the roof, foundation, and plumbing, as the basement renovation may have updated interior systems.
5. Why is the last sold price from 2020 shown as a range?
Public records sometimes provide approximate sale prices. For the exact historical sold price, you can request it directly via the email link provided on the listing page.