43.0
Below average
Property score
43.0
Below average
Overall 43.0
Smaller and older than most nearby homes
698 sqft (bottom 12%)
Built in 1912 (36 yrs older than avg)
Located in a above-average income area
with median household income of ~83k
Transit 86.0
4-min walk to transit with 4 nearby routes
Within 500m: 6 dining spots, 2 schools, 3 healthcare facilitys, and 3 shops nearby
Sold for $250,000 over asking
Winnipeg Real Estate Sales Summary & Market Analysis May 11–17, 2026
Living Area
Below average
27% smaller than neighborhood avg.
Year Built
Below average
36 yrs older than neighborhood avg.
Mother tongue
English · 72%Tagalog · 9%
Past 10 years King Edward sales snapshot (~80% of all data)
1,128
356.6k
$349/sqft
1948
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43.0 is composed by the two sections below.
Property Score
Community Score
King Edward
How to read: Share of sales in each ~$50k price band for “king edward” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110243
$83K
Median household income
$91K
Average household income
7%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.8
P90 / P10 ratio
26%
Single-person households
22%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
242 King Edward Street — 27 amenities found within 500 m, across 8 categories, including 6 dining (nearest 202 m), 2 education (nearest 385 m), 3 healthcare (nearest 214 m).
King Edward · WPS public data · 2026
Annual incidents
32
2026
vs. city avg
+8%
relative to avg
Year-over-year
▼ -92%
vs. prior year
Primary type
Property
47%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 9% | Bottom 6% | Bottom 3% |
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 6% | Bottom 5% | Bottom 3% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview
This one-storey home at 242 King Edward Street in Winnipeg is a compact, historic property built in 1912. Its primary appeal lies in its exceptionally low financial barrier to entry, with an assessed value significantly below area and city averages. The 698 sqft living space is modest, and the home features a basement that has not been renovated and no garage. The lot size is also smaller than most in the neighbourhood. This is not a move-in-ready property for most; its value is rooted in its price point and potential, rather than its current condition or size.
Key Characteristics & Suitability
The defining characteristic of this property is its affordability. With an assessed value in the bottom tier compared to its street, neighbourhood, and the entire city, it represents one of the most accessible entry points into homeownership in Winnipeg. Its appeal is primarily for value-driven buyers: investors looking for a rental property with very low upfront costs, hands-on homeowners seeking a foundational project to renovate over time, or those prioritizing minimal property taxes and carrying costs above all else. It’s worth a thoughtful look for someone comfortable with a home that is smaller, older, and requires work, in exchange for a uniquely low purchase price.
A less obvious perspective is the lot's potential. While the land area is below average for the street, it may still offer valuable outdoor space for a home of this size. Additionally, its consistent sale history around the assessed value suggests a stable, if niche, market for these ultra-affordable properties, which can be a secure starting point in a volatile market.
Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the home is very modest and older, its stable sale history suggests it is habitable and holds value as a dwelling. It is more accurately described as a renovation or holding opportunity rather than a pure land play.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's small size (698 sqft), its age (1912), its unrenovated condition, and its below-average lot size for the area. It is priced for its current state, not its potential.
3. What type of renovation would it likely need?
The listing specifically notes the basement is "not renovated," which is a common starting point. Given the age, buyers should budget for potential updates to essential systems (plumbing, electrical, heating) and general modernization throughout.
4. Who would this property NOT suit?
It would not suit buyers looking for a move-in-ready home, those needing multiple bedrooms or ample space, or anyone unwilling to take on a project. The lack of a garage and smaller lot may also not fit families or those with multiple vehicles.
5. How does the sold price history help me?
The past sold prices, which are close to the current assessed value, indicate a consistent market for such properties. This history helps establish a realistic benchmark for what similar, value-driven buyers have been willing to pay, providing a foundation for your own offer.
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