Property Overview

This one-and-a-half storey home, built in 1912, presents a unique and straightforward opportunity in Winnipeg's King Edward neighbourhood. Its key appeal lies in its position as an affordable entry point into the housing market, with a living space (1,152 sq ft) that is notably above average for its immediate street and neighbourhood. The home features a basement and sits on a 2,693 sq ft lot. It does not have a garage or pool. The property's most defining characteristic is its exceptionally low municipal assessed value, which places it in the bottom 3% of homes citywide. This suggests it is a prime candidate for a value-add project or a long-term hold, rather than a move-in-ready home. The last recorded sale was in mid-2017 for a very modest price.

Who This Property Suits
This home is best suited for an investor, a hands-on first-time buyer with renovation skills, or a buyer with a very constrained budget whose primary goal is securing land and a structure in the city. Its appeal is almost entirely in its potential and price point, not in its current condition. It would suit someone comfortable with a significant project, whether that's a gradual renovation or a potential redevelopment of the lot in the future. The buyer must be prepared for the work implied by the low assessment and unrenovated state.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes?
A very low municipal assessment typically reflects a property's current condition, age, and lack of recent updates. For this home, it strongly indicates that significant renovations or updates are needed, and it is being assessed largely for the value of the land and the basic structure.

2. What does "one-and-a-half storey" mean for this house?
This style, common for homes of this era, usually means the second floor has sloped ceilings following the roofline, creating smaller but character-filled rooms. It often means less full-height living space on the upper level compared to a true two-storey home.

3. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." This means it is in a raw, unfinished state (concrete floors and walls, exposed utilities) and would require significant work to become livable space.

4. How reliable are the sold price ranges shown?
The ranges are based on public data. For the exact historical sale price, you must request it directly from the site via email, as they manually verify this information from non-public sources.

5. The living area is above average, but the value is very low. What does this mean?
This contrast highlights the core dynamic of this property: it offers a decent amount of enclosed space, but that space is in need of major modernization. The size is a positive asset, but the cost to bring the entire home to a modern standard is what is reflected in the low valuation.