Property Overview: 420 Parkview Street, Winnipeg

Section 1: Key Characteristics & Appeal

This 1984 bi-level home at 420 Parkview Street in the King Edward neighbourhood presents a practical and updated living space. Its key appeal lies in its recent, significant renovation and its strong standing within its immediate area. With 956 sqft of living area and a renovated basement, the home offers modern functionality in a manageable size. The data reveals a compelling perspective: while the home's size is modest by city-wide standards, it ranks above average for both assessed value and year built within its own neighbourhood and street. This suggests it is a comparatively newer and more valuable property in its local context, likely due to the renovations.

The home would suit first-time buyers or downsizers looking for a move-in ready, low-maintenance property in a central Winnipeg neighbourhood. It’s also a sensible choice for value-focused buyers who prioritize a modernized interior over a large lot or expansive square footage, as the land area is typical for the area but smaller than the city average. The recent sale history indicates active market interest and a rising value trajectory.

Section 2: Frequently Asked Questions

1. How does this home truly compare to others in the area?
The data shows it outperforms many local peers. It’s newer than most homes on its street and in King Edward, and its assessed value is in the top 22% and 17% for those areas, respectively. This indicates it’s seen as a higher-value property locally, likely due to its updated condition.

2. What does the sold price history tell us?
The home sold recently in September 2024 and prior to that in February 2023. The increase in sale price range over that period suggests strong market demand and rising value, potentially reflecting the impact of the renovations.

3. Is the living space sufficient?
At 956 sqft, it is very close to the neighbourhood average (952 sqft) but below the city-wide average. The renovated basement effectively adds usable space, making it efficient for individuals, couples, or small families who prioritize quality of finish over sheer size.

4. What are the implications of the lot size?
The land area is standard for King Edward but below the Winnipeg average. This translates to less exterior maintenance, which can be a benefit, but offers limited space for large-scale expansions or gardening.

5. Who are the most relevant comparable properties?
The listed "For reference" property at 381 Parkview Street is a strong comparator. It’s a similar size, on the same street, but older and with a significantly lower assessed value, highlighting how the year and renovations at 420 Parkview contribute to its higher valuation.