Property Overview: 275 Inglewood Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-and-a-half storey home built in 1912, situated on a standard city lot in the King Edward neighbourhood. With 972 sqft of living space, it offers a modest footprint that is typical for its immediate area but below the citywide average. A key defining characteristic is its notably low municipal assessed value, which ranks it among the most affordable properties in Winnipeg. The basement exists but is not renovated, and the property does not include a garage or pool.

The primary appeal lies in its position as an entry point into the housing market. It represents a low-barrier opportunity for first-time buyers, investors, or those seeking to minimize their property tax burden. Its size and vintage suggest it would suit a handy buyer comfortable with gradual updates or an investor looking for a straightforward rental property. A less obvious perspective is its potential for someone prioritizing financial flexibility—the low carrying costs could free up income for travel, savings, or investing in renovations over time. It’s not a move-in-ready dream home, but a practical foundation.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Municipal assessments are based on factors like location, size, condition, and recent sales of comparable properties. This home’s age, modest size, and likely need for updates place its value significantly below the Winnipeg average, which reflects a wider mix of newer and larger homes.

2. What does “basement, not renovated” typically imply?
It generally means the basement is unfinished or in a basic, utilitarian state. It likely has concrete walls and floors, and while it may house the furnace and offer storage, it is not developed into a livable family room or suite. Buyers should budget for potential moisture management or upgrades.

3. Who might this property not be suitable for?
It may not suit buyers looking for a modern, turn-key home, those who require ample space for a growing family, or anyone needing attached parking (as there is no garage). The need for potential work makes it less ideal for those unable to handle minor projects.

4. The home last sold in 2019 for a very low price. Does that affect its current value?
While past sales are a data point, the current market conditions and the property’s present state are more decisive. That sale reinforces the home’s history as an affordable option, but the current price will be determined by today’s market and any changes made since.

5. Is the land size a pro or a con?
At just over 2,500 sqft, the lot is manageable for low-maintenance outdoor space but offers limited potential for major expansions or additions compared to larger lots. It’s a balanced feature: sufficient for a patio or garden, without the upkeep of a vast yard.