Property Overview: 338 St Charles Street, Winnipeg

Key Characteristics & Appeal

This bi-level home at 338 St Charles Street in Glendale presents a compelling mix of modern updates and solid value within a well-established neighbourhood. Its key appeal lies in a recently renovated basement, adding functional living space to the 1,040 sqft footprint, and a notably newer construction year (1986) compared to most homes on its street and in the wider area. This relative modernity suggests potentially fewer immediate concerns with aging infrastructure.

The property stands out for its strong assessed value relative to its immediate peers, ranking in the top 15% on its street. This indicates it is viewed as a higher-value asset in its local context. The detached garage adds practical utility. A thoughtful perspective is that while the living area is average for the city, the home’s appeal is in its efficient use of space combined with updates, rather than sheer size. It would suit first-time buyers or downsizers looking for a manageable, updated home in a mature neighbourhood without the premium of a brand-new build, or an investor attracted by its strong assessment fundamentals and renovation history.

Frequently Asked Questions

1. How does the lot size impact this property?
The land area is smaller than most direct neighbours, which typically means less yard maintenance. This can be a benefit for those seeking a low-maintenance outdoor space, though it may limit expansion possibilities or appeal to those wanting extensive gardening.

2. What does the "Elite" ranking for Year Built mean?
This means the home, built in 1986, is among the newest 5% on its street. In a neighbourhood of mostly older homes, this often translates to newer roofing, wiring, plumbing, and windows, potentially reducing near-term capital repair costs.

3. The assessed value is high for the street but average citywide. What does this indicate?
This suggests the property is a standout in its specific local market (Glendale/St Charles Street), which is positive for equity. The citywide average assessment reflects its alignment with broader Winnipeg values, indicating its pricing isn't an outlier but is supported by its condition and updates.

4. Has the property’s value increased over recent sales?
Yes. Based on the sold price ranges provided, the home has appreciated from the ~$30.50-33.50k range in 2017 and 2019 to the ~$37.50-40.50k range in 2024, showing a clear upward trend in market value.

5. What are the trade-offs of a bi-level design?
Bi-levels offer good separation of living and sleeping areas but typically involve short staircases to both the main living area and the lower level. This layout is efficient but may not suit those with significant mobility concerns. The renovated basement, however, maximizes the utility of this classic Winnipeg design.