Property Overview: 422 Parkview Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1947, presents a unique value proposition in Winnipeg's King Edward neighbourhood. Its primary appeal lies in the combination of a generously sized lot and a functional living space within a classic architectural style. With 1,162 sqft of living area, the home is notably spacious for both its immediate street and the wider neighbourhood, ranking in the top 22% and 17% respectively. The standout feature is the 5,425 sqft land area, which places it in the top 9% of lots locally, offering significant outdoor space rarely found in older core areas.

The home’s assessed value is notably low compared to city-wide averages, suggesting it may be an entry-point opportunity or a property in need of modernization. This profile suits specific buyer types: first-time buyers or investors looking for a "foot-in-the-door" with land value potential, or hands-on owners who envision updating a character home and value a large private yard over a modern interior. Its appeal is grounded in space and location rather than turn-key finishes, making it a practical canvas for customization.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
Assessed value is for taxation purposes and is influenced by many factors, including the home's condition, specific location, and recent sales in the immediate area. A lower assessment can sometimes indicate an older home that hasn't been extensively renovated, but it doesn't necessarily reflect market value or potential.

2. What does the lot size mean for a potential buyer?
A lot of over 5,400 sqft in an established neighbourhood is a significant asset. It offers ample space for gardening, recreation, potential additions (subject to zoning), or simply more privacy than typical lots. This is a long-term benefit that can add substantial value.

3. How does the living space compare to nearby homes?
The living area is above average for both Parkview Street and the King Edward neighbourhood. This means you're getting more interior space than many comparable homes in the area, which often have less than 1,000 sqft.

4. What should I consider about the home's age (built in 1947)?
Homes from this era often have solid construction and character, but may require updates to major systems like wiring, plumbing, or insulation. A thorough inspection is essential to understand the condition and plan for any necessary investments.

5. Are the recent sold prices for nearby properties comparable?
The listed nearby sales show a range of values, sizes, and conditions. Some are smaller with similar assessments, while a new build on Marjorie Street is vastly different. This highlights that value on this street is highly variable, depending on the property's state and lot specifics. Direct comparison is difficult without considering each property's individual condition and features.