Property Overview: 346 Collegiate Street, Winnipeg

Section 1: Key Characteristics & Appeal

This bi-level home at 346 Collegiate Street in Winnipeg's King Edward neighbourhood presents a practical and modern living option. Its key appeal lies in being a relatively new construction (built in 2012) within an established area, offering move-in readiness with a renovated basement. With 857 sqft of living space, it is comfortably sized for individuals, couples, or small families, and sits on a standard city lot of just over 3,000 sqft.

The home’s value proposition is underscored by its above-average assessed value for both its immediate street and the broader King Edward area, suggesting it is well-regarded relative to its local peers. A less obvious perspective is that this property offers a balance of newer build efficiencies (like modern systems and insulation) without the premium often associated with brand-new suburban developments. It would suit first-time homebuyers seeking a low-maintenance, modern home in a central location, or downsizers looking for a manageable footprint without sacrificing contemporary comforts. The lack of a garage and a smaller-than-city-average lot size point to a buyer who prioritizes the interior condition and building age over expansive outdoor space or vehicle storage.

Section 2: Frequently Asked Questions

1. How does this home’s value compare to others in the area?
The home’s assessed value of $310k ranks above average for both Collegiate Street and the King Edward neighbourhood, indicating it is a higher-valued property in its immediate context, though it sits around the average mark when compared citywide.

2. What are the practical implications of the "bi-level" design?
A bi-level typically features a main living area accessed by a short flight of stairs from the entrance, with bedrooms often on a lower level. This can offer good separation of living and sleeping spaces but may involve more stairs daily than a bungalow.

3. Is the living space sufficient for a small family?
At 857 sqft, the living area is slightly below the average for King Edward (~952 sqft). It is a compact layout, efficient for a couple or a small family, but may feel cozy for those needing multiple dedicated rooms or extensive storage.

4. The home was last sold in 2016. What does that indicate?
A nine-year ownership period suggests the sellers were not short-term investors, which can sometimes point to a well-maintained home and a stable ownership history.

5. What are the trade-offs of the lot size?
The lot of 3,038 sqft is standard for the street but below the Winnipeg city average. This means lower outdoor maintenance but also limited potential for large additions, pools, or extensive landscaping compared to properties on larger lots.