Property Overview & Key Characteristics
This one-storey home at 338 King Edward Street is a compact, early 20th-century property that presents a clear value-oriented opportunity. Its primary appeal lies in its renovated basement and its position as one of the more affordable entry points into the Winnipeg market, with an assessed value significantly below the citywide average. The 690 sqft living area is notably compact, ranking in the bottom 10% for size both on its street and citywide, which suggests a lifestyle of efficiency and minimalism.
The home would suit first-time buyers or investors seeking a lower-cost foothold in the city, particularly those comfortable with a smaller, historic floor plan. Its below-average land size (2,695 sqft) means minimal exterior upkeep, appealing to those who prefer a low-maintenance yard. A thoughtful perspective is that while the home ranks below average in most metrics for its area, this is precisely what creates its accessibility; it offers the character of a 1913 build without the premium price tag of a larger, updated heritage home. The detached garage adds practical value in a neighborhood where off-street parking is a benefit.
Frequently Asked Questions
1. Is the house actually as small as the numbers suggest?
Yes. With 690 sqft of living space, it is substantially smaller than the average Winnipeg home (approx. 1,342 sqft). The renovated basement adds usable space, but the main-floor footprint is compact.
2. Why is the assessed value so much lower than the citywide average?
The assessed value of $190k reflects a combination of its smaller size, older age, and the specific market values in its immediate area. It is priced for its segment of the market, not the city's overall average.
3. What does "below average" ranking in these categories mean for livability?
It primarily means less space, both indoors and on the lot. This can mean lower utility costs and less maintenance, but requires a mindful approach to belongings and living arrangements.
4. Is the renovated basement a legal suite?
The provided details state the basement is renovated but do not specify if it is a legal, rentable suite. This is a critical point to verify with the listing agent or city records, as it impacts value and utility.
5. How recent are the renovations mentioned?
The information confirms the basement is renovated but does not specify when or to what extent. Inquiring about the scope, permits, and date of the renovation is essential for understanding the home's current condition.