Property Overview: 239 King Edward Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a compact, one-storey home built in 1912, situated on a standard city lot in the King Edward neighbourhood. Its key characteristic is its exceptionally low financial barrier to entry, with an assessed value significantly below area and city averages. The living space (656 sq ft) is modest and ranks below most comparable homes, and the basement is noted as unrenovated. There is no garage or pool.
The primary appeal lies in its position as one of the most affordable entry points into homeownership in Winnipeg. It represents a straightforward investment opportunity, whether as a first property, a minimal-holding-cost asset, or a project for someone with renovation skills. Its low assessed value suggests correspondingly low property taxes, which is a key, less-obvious financial advantage. The lot size is average for the immediate street, offering typical outdoor space for the area.
This property would best suit a pragmatic, cost-conscious buyer. This could include an investor looking for a low-cost rental property, a first-time buyer prioritizing ownership over size or condition, or a hands-on individual seeking a manageable renovation project without a large initial mortgage.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed values are based on market value and property characteristics. This home’s modest size, age, and unrenovated condition place it in a lower value tier, which is reflected in its assessment compared to the broader city market.
2. What does "below average" in the rankings mean for a buyer?
The rankings compare this home to others on its street, in King Edward, and citywide. Being "below average" in living area or value isn't necessarily negative; it clearly signals a smaller, more affordable property. It helps set accurate expectations for space and investment level compared to other homes.
3. The home sold in 2022. What can that price range tell me?
The listed sold price range from 2022 provides a recent market benchmark. Given the low assessed value, it confirms the home transacts in a very affordable price segment. For current value, you should consult a real estate professional for a comparative market analysis.
4. Is the unrenovated basement a major concern?
It indicates the lower level is in original or utilitarian condition. It should be inspected for moisture, foundation integrity, and basic systems. It represents potential for future living space or storage but will require investment to modernize.
5. Who should request the exact sold price history?
The exact price is useful for serious buyers or investors conducting detailed financial analysis. The provided range offers a general reference, but the precise figure can help in formulating a specific offer or understanding precise market trends for this property type.