207 King Edward Street

Property Overview

This bi-level home at 207 King Edward Street presents a distinct profile within its Winnipeg neighbourhood. Its primary appeal lies in being a modern structure in an area of much older homes. Built in 2021, it is newer than 97-98% of homes on its street, in the King Edward area, and across the entire city. With 1,020 sqft of living space and an unrenovated basement, it offers a relatively modern, low-maintenance foundation in a central location. The lot is compact at 2,838 sqft, which means less yard upkeep but also less private outdoor space.

The property would suit first-time buyers or investors looking for a turnkey, newer build without a premium price tag, as evidenced by its assessed value being in line with area averages. It’s a practical choice for those who prioritize modern systems and building standards over character or expansive lot size. A less obvious perspective is that its newer construction could mean predictable utility and repair costs in the short-to-medium term, a significant budgeting advantage. However, its compact lot and above-average assessed value for the immediate neighbourhood suggest its value is tied more to the building itself than the land.

Frequently Asked Questions

1. Why is the assessed value relatively high for the area?
The home’s assessed value ranks in the top 13% for the broader King Edward area, which is largely due to its very recent construction (2021) compared to the neighbourhood's typical century-old homes. The value reflects the modern building, not the land size.

2. What does "basement, not renovated" imply?
This indicates the home includes a basement, but it is in an unfinished or utilitarian state. It provides valuable storage or mechanical space and offers potential for future living space, but it would require a significant investment to finish.

3. How does the lot size impact this property?
At 2,838 sqft, the lot is below average for the street and city. This means lower maintenance, but also limited potential for expansions like large additions, decks, or private gardens. It contributes to a more urban, low-upkeep lifestyle.

4. Is this a good investment compared to older homes on the street?
It offers a different value proposition. You are trading the character and potentially larger lots of older homes for modern construction with likely lower immediate repair costs and newer appliances, wiring, and insulation. Its appeal is to a specific buyer seeking move-in-ready modernity.

5. The sold price history shows a range. What sold for that price?
The listed sold price range from May 2021 (approximately $28.5k-$31.5k) almost certainly refers to the vacant land value prior to the home's construction in 2021. The current assessed value of $33.5k reflects the completed property. For the exact historical sale price, you can request the information via the email tool provided.