Property Overview & Key Characteristics

This one-and-three-quarter storey home, built in 1912, presents a classic Winnipeg character property with a practical footprint. Its key appeal lies in its position as a potentially lower-cost entry point into the King Edward neighbourhood. With 1,067 sqft of living space, it offers a manageable size that is actually above average for the immediate area. The assessed value is notably below average at $19,500, which could indicate an opportunity for a value-conscious buyer or an investor, but also suggests the property may require modernization.

The home would suit a first-time buyer looking for character in an established neighbourhood without a massive initial investment, or an investor considering a renovation or rental property. Its smaller land size (3,825 sqft) means less yard maintenance, appealing to those seeking a simpler footprint. A thoughtful perspective is that while its age and value metrics rank below average, this creates a distinct niche: it offers the charm and location of an older neighbourhood without the premium price tag of a fully updated home, making it a project or a pragmatic starting point.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
This is common for older, character homes that haven't been extensively renovated or reassessed in some time. The assessed value is based on municipal valuation for tax purposes and doesn't necessarily reflect current market value, but it often correlates with a home's condition and update level.

2. What does "one-and-three-quarter storey" mean for the layout?
Typically, this style features a full main floor and a second floor where the roofline slopes into the walls, creating cozy bedrooms with potentially lower ceilings in certain areas. It's a classic design offering more space than a bungalow but with a different feel than a full two-storey.

3. Is the living area sufficient for a small family?
At just over 1,000 sqft, it is compact. The space is above average for Queen Street itself, suggesting the scale fits the neighbourhood. It would be suitable for a small family or couple comfortable with efficient use of space, likely with two or three bedrooms.

4. How does the lack of a basement impact storage and utilities?
This is a significant consideration. Without a basement, all living and mechanical systems (furnace, water heater) are on the main floors, and storage space will be limited. This can be a drawback for some but also eliminates concerns about basement moisture or flooding.

5. The home last sold in mid-2021. What might that indicate?
The previous sale was in a very different interest rate environment. The price range from that sale ($17.5k-$20.5k) is close to the current assessed value, suggesting the fundamental value has remained stable. The resale after a relatively short period could be due to many life circumstances, but it may be prudent to inquire about the reason for the sale.