Property Overview: 278 Queen Street, Winnipeg

Key Characteristics & Appeal

This bi-level home at 278 Queen Street in Winnipeg's King Edward neighborhood presents a practical and modern opportunity. Built in 1994, it is notably newer than most homes in its immediate area and across the city, suggesting potentially fewer concerns with aging infrastructure. The 860 sqft living space is efficiently sized, fitting comfortably within the local averages for the street and neighborhood. A key feature is the renovated basement, adding functional space. The property includes a detached garage and sits on a 3,881 sqft lot, which is a manageable size for low-maintenance outdoor living.

Its appeal lies in its relative modernity within an established community. For its assessed value, it ranks above average in King Edward, indicating it is perceived as a solid asset within the local market. It would suit first-time homebuyers or downsizers looking for a move-in-ready, low-maintenance home without the surprises often found in much older properties. It’s also a sensible fit for pragmatic investors seeking a newer, rentable property in a stable neighborhood, as its modern basics (like plumbing and electrical) could mean lower immediate upkeep costs compared to century-old homes.

Frequently Asked Questions

1. How does the home’s size compare to others?
At 860 sqft, the living area is very close to the average for both Queen Street and the wider King Edward neighborhood. It is, however, more compact than the typical Winnipeg home, which averages around 1,342 sqft.

2. Is the assessed value a good indicator of the selling price?
The assessed value is for municipal tax purposes and is not a direct market appraisal. Notably, this home’s assessed value ranks in the top 27% for the King Edward area, suggesting it is considered above average for the neighborhood. The last known sale was in 2020.

3. What are the advantages of a 1994 build in this area?
Most comparable homes on the street and in the neighborhood were built around 1945-1948. A 1994 build typically means more modern construction standards, wiring, plumbing, and insulation, which can translate to greater energy efficiency and fewer major retrofits.

4. What is the lot size, and is it typical?
The lot is 3,881 sqft. This is slightly larger than the citywide average lot for comparable homes but somewhat smaller than the average lot on Queen Street itself. It offers a balanced space: enough for a yard but not overly large for high maintenance.

5. You mention a renovated basement. What does that include?
The listing confirms the basement is renovated but does not provide specific details on the finishes or layout. This would be a key point to clarify with the seller or listing agent to understand the quality of the renovation and how the space can be utilized.