Property Overview: 360 Roseberry Street, Winnipeg

Section 1: Key Characteristics & Appeal

This bi-level home at 360 Roseberry Street in the King Edward neighbourhood stands out for its modern foundation in an established area. Built in 2019, it is a notably newer construction compared to most homes on its street and across Winnipeg, offering contemporary building standards and minimal immediate maintenance concerns.

Its primary appeal lies in its efficient use of space and strong value positioning. With 1,032 sqft of living area, it provides ample room for a small household and ranks above average for size within its immediate locale. The home features a renovated basement, adding functional living space. A key, less obvious strength is its assessed value ($37,200), which ranks in the elite top 4% on Roseberry Street. This suggests the property is viewed as a high-value asset relative to its direct neighbours, which can be advantageous for equity and lending.

The property would suit first-time homebuyers or downsizers seeking a modern, low-maintenance home without leaving a mature neighbourhood. It’s also a practical fit for value-conscious buyers who prioritize a newer building envelope and solid assessed value over a large land plot, as the lot size is more compact compared to the citywide average.

Section 2: Frequently Asked Questions

1. How does the home’s age impact insurance or maintenance?
Being built in 2019, it likely benefits from newer electrical, plumbing, and roofing systems, which can lead to lower maintenance costs and potentially more favourable home insurance terms compared to century-old homes prevalent in the area.

2. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and is not market value. Its high ranking on the street indicates that, compared to neighbouring properties (many from the early 1900s), this home is considered one of the most valuable for assessment—a positive sign for its relative worth.

3. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. A buyer should verify with the city if the renovations meet code for a potential suite or if it is designed solely as additional living space.

4. What are the implications of having no garage?
The property has no garage. This is common for the area but means parking is limited to driveway or street. Buyers should consider the practicality of this for their vehicles, storage needs, and during Winnipeg winter parking bans.

5. The lot is smaller than the city average. Is that a drawback?
The land area is about average for King Edward but below the Winnipeg average. This means lower yard maintenance, which suits a lock-and-leave lifestyle. However, it offers less space for expansions, large gardens, or outdoor recreational structures compared to properties on larger lots.