Property Overview & Key Characteristics

This property at 278 Inglewood Street presents a unique profile defined by significant contrasts. Its primary appeal lies in its substantial 2,518 sqft lot, which ranks within the top 16% on its street, offering above-average outdoor space for the King Edward neighbourhood. This is coupled with an exceptionally low assessed value, placing it in the bottom tier for the area. The data suggests a home that is likely older, more modest in size, or in need of updating compared to its neighbours, as indicated by its sold price in 2019 being below the assessed values of most comparable listings.

The property would suit a specific type of buyer: an investor or hands-on homeowner looking for a land-value opportunity in a central Winnipeg neighbourhood. It’s a potential candidate for a renovation project, a rebuild, or a long-term hold based on the asset of the lot itself. It is less suited for a buyer seeking a move-in-ready home or who is sensitive to the potential for higher immediate maintenance or improvement costs.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
A low assessment often reflects the property's current condition, size, or features relative to others. It may indicate the home is smaller, older, or requires significant work compared to updated or larger homes on the street.

2. What does the lot size mean for me?
At over 2,500 sqft, the lot is a key asset. It provides more outdoor space than many city lots and could allow for future expansion, landscaping, or additions, subject to local zoning bylaws.

3. Who would this property be a good fit for?
It’s best suited for buyers with a vision for a project, such as renovators, builders, or investors. The appeal is in the underlying land value and the potential to increase the property's worth through investment.

4. What should I consider about the 2019 sale price?
The previous sale price being below current neighbourhood assessments suggests the property was a value purchase then. It underscores the home’s potential as a fixer-upper and highlights the importance of a current, thorough inspection to understand its present condition.

5. How do the "rankings" work?
The rankings compare this property to others on the same street, in the neighbourhood, and across Winnipeg. For example, a "Top 16%" rank for lot size means 84% of lots on the street are smaller. Conversely, a "Top 2%" rank for assessed value means 98% of homes on the street are assessed for more, confirming its status as a lower-valued property in the area.