Property Overview: 149 Edward Avenue E

This single-storey home in Winnipeg's Kildare-Redonda neighbourhood presents a practical and straightforward opportunity. Built in 1959, it features 1,040 sqft of living space, a renovated basement, and a detached garage on a nearly 5,000 sqft lot. The home's assessed value is notably below average for its immediate area, which can signal different things to different buyers.

Key Characteristics & Appeal

The primary appeal of this property lies in its position as a functional, no-frills home in an established neighbourhood. Its living space is above average for Kildare-Redonda, offering more room than many nearby comparables. The renovated basement adds usable square footage and modern convenience. A key, less obvious perspective is its financial profile: with an assessed value consistently ranking in the bottom 25-30% of its local peer groups, it may represent a lower entry point into the market or attract attention from value-conscious investors. This could be due to the home's condition, specific features, or simply its positioning on the street.

It would suit first-time buyers looking for a manageable, single-level layout with update potential, or practical investors seeking a rental property with a baseline of recent updates (the basement). The detached garage and decent lot size add functional value for someone needing workshop space or simple outdoor room.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
Assessed value is for municipal tax purposes and is influenced by many factors, including specific home features, condition, and local market trends. This home's value is calibrated against similar properties in its immediate area and style, not against newer or larger homes city-wide.

2. What does "renovated basement" typically include?
While specifics require a viewing or disclosure from the seller, in homes of this era, a renovated basement usually means finished living space—often including drywall, flooring, and ceiling updates. It's important to verify the quality of the renovation and check for necessary permits.

3. Is the below-average assessment a good or bad sign?
It can be both. It may indicate a more affordable tax burden and a price point below neighbouring homes. However, buyers should investigate if the lower assessment relates to the home's condition, deferred maintenance, or other factors that a home inspection could clarify.

4. How does the sold price history help?
The last known sale range (May 2023) provides a recent market benchmark. Comparing this to the current asking price shows market movement. The fact that the exact price requires a request suggests it may be useful data for serious negotiation.

5. What are the pros and cons of a 1959-built home?
Pros include character, established landscaping, and often simpler, sturdy construction. Cons can include older mechanical systems (like plumbing and electrical), insulation standards, and the potential for needing updates to windows, roofing, or the foundation over time. A thorough inspection is essential.