Property Overview: 245 Parkview Street, Winnipeg

Key Characteristics & Appeal

This is a compact, one-and-a-half storey home built in 1918, presenting a classic Winnipeg character. With 800 sqft of living space and an unrenovated basement, it is a modest-sized property on a 2,709 sqft lot in the King Edward neighbourhood. Its appeal lies in its position as an accessible entry point into the market. The home's assessed value is notably below average for the city, suggesting a lower property tax burden and an opportunity for buyers comfortable with a home that may require updates. The lot, while smaller than many in Winnipeg, is around average for the immediate area.

This property would suit a first-time buyer, an investor looking for a straightforward rental, or someone seeking a minimalist footprint. Its smaller scale could be seen as an advantage for those wanting lower maintenance costs and utility bills. A thoughtful perspective is that a home of this vintage and size in a central neighbourhood often has a simpler, more efficient layout than some later additions, and its below-average assessment can provide financial breathing room for gradual, personalized improvements.

Frequently Asked Questions

1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped roofs, creating cozy bedrooms with potentially reduced ceiling height in parts. It's a charming, traditional design common in older Winnipeg neighbourhoods.

2. The assessed value seems very low compared to city averages. Why is that?
The assessed value is based on the property's market value as determined by municipal assessors. A value significantly below the citywide average usually reflects the home's smaller size, age, and condition relative to the broader market, not necessarily its livability or potential.

3. Is the unrenovated basement finished?
The listing specifies the basement is "not renovated," which generally means it is unfinished. It likely has foundational walls and utilities but is not developed into a livable family room or apartment suite.

4. How does the lot size impact this property?
At just over a quarter of an acre, the yard is manageable with less upkeep. For some, this is a benefit for low-maintenance living. For others, it may limit options for large additions, decks, or extensive gardening compared to properties on larger lots.

5. The home is over 100 years old. What should I consider?
While offering character, a home from 1918 will have aging components. A thorough inspection is essential to understand the condition of major systems like wiring, plumbing, and the foundation. Its longevity, however, also speaks to the durability of its original construction.