Property Overview
This well-situated one-storey home at 245 King Edward Street offers a blend of comfortable living space and a generous lot in a mature Winnipeg neighbourhood. Its appeal lies in its above-average scale for the immediate area, presenting a solid value proposition for a specific type of buyer.
Key Characteristics & Ideal Buyer
The home's key characteristic is its size. With 1,378 square feet of living space, it ranks in the top 3% of homes on its own street and the top 6% within the broader King Edward area, meaning it offers significantly more room than most comparable neighbouring properties. This is complemented by a large, above-average lot of over 5,600 square feet. The house features a renovated basement and a detached garage. Built in 1974, it is newer than many homes in the neighbourhood.
Its primary appeal is as a spacious, ground-level living option in an established community. It would suit a buyer looking for a home with room to grow or spread out, without the maintenance of a multi-storey layout. The large lot is a significant asset for gardening, recreation, or future expansion. The renovated basement adds immediate functional living space. This property is particularly well-suited for small families, empty-nesters seeking single-level living, or value-conscious buyers who prioritize interior and exterior space over a newer build or a central-city location.
Frequently Asked Questions
1. What does the assessed value tell me about the property?
The assessed value of $35,200 is above average for both the street and the King Edward area, which generally reflects the home's larger living area and lot size compared to its peers. It's important to note this is a value for taxation purposes, not a market price.
2. How does the living area compare to typical Winnipeg homes?
While the home is quite spacious for its specific neighbourhood, its living area is close to the Winnipeg city-wide average. This highlights that you are getting a home that feels large for the local context, offering more interior space than most nearby alternatives.
3. What is the significance of the lot size?
At 5,683 sqft, the lot is well above average for the King Edward area (top 7%). This is a standout feature, providing ample private outdoor space that is less common in older neighbourhoods, where lots are often smaller.
4. The home sold in 2021. What can that price range indicate?
The recorded sold price range from 2021 provides a historical benchmark. Considering the assessed value and market changes since then, it serves as a reference point for the home's previous market value, but current conditions would determine its present price.
5. What are the practical implications of the "one storey" building type?
The single-storey layout offers accessibility and ease of movement, which can be a long-term advantage. However, it typically means a larger footprint on the lot. Combined with this property's generous land area, this layout maximizes the potential for a spacious, spread-out floor plan all on one level.