Property Overview

This one-storey home at 303 Amherst Street in Winnipeg's King Edward neighbourhood presents a compact and efficient living space on a generously sized lot. Its key appeal lies in the balance between a modest, renovated interior and the potential offered by its land. The 727 sqft living area is smaller than many city homes but is typical for the immediate street. Notably, the property sits on a lot of nearly 4,700 sqft, which is larger than most in the King Edward area. A detached garage and a renovated basement add practical value. The assessed value is strong for its local context, suggesting the property is well-regarded within its peer group of older, character homes.

This home would suit a first-time buyer, an investor, or someone looking to downsize into a manageable property without sacrificing outdoor space. Its size requires efficient use of space but avoids the maintenance of a larger house. The above-average lot size is a standout feature, offering room for gardening, expansion, or simply more privacy than neighbouring properties—a less obvious advantage in a mature neighbourhood. It’s a pragmatic choice for someone valuing location and land over square footage.

Frequently Asked Questions

1. Is the house too small for comfortable living?
At 727 sqft, the living area is compact. However, the renovated basement provides additional finished space, and the efficient one-storey layout can be ideal for individuals, couples, or small families who prioritize low maintenance. Creative use of space and the large lot can offset the smaller interior footprint.

2. How does the assessed value compare to the likely selling price?
The assessed value is approximately $29,900, which is above average for both the street and the King Edward neighbourhood. It's important to note that assessed value for tax purposes is not a direct market appraisal. The last recorded sale in 2023 was in the $33.5k-$36.5k range, which may be a more relevant recent benchmark, though market conditions change.

3. What are the advantages of such a large lot?
The lot size of 4,698 sqft is a significant asset. It offers more yard space than most nearby properties, providing potential for gardening, recreational space, or future additions like a shed or deck. In established neighbourhoods, larger lots are rare and can contribute to long-term value.

4. What should I consider about the age of the home?
Built in 1941, the home is typical for the area. While the basement has been renovated, a home of this age will have older core components. Prospective buyers should factor in potential updates to major systems like plumbing, electrical, or the roof into their planning and budget.

5. Who are the most likely neighbours or comparable buyers?
Given its size and profile, this property likely appeals to practical buyers seeking an entry point into homeownership or a low-maintenance lifestyle. It may also attract investors looking for a rental property in a stable, mature neighbourhood. Its value is very specific to its local context rather than city-wide averages.