Property Overview: 428 Inglewood Street, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1914, presents a classic character home opportunity in Winnipeg's King Edward neighbourhood. With 922 square feet of living space and a detached garage, it sits on a modest 2,518 sqft lot. The home features a basement that is noted as being unrenovated.

Its primary appeal lies in its position as a relatively average property within its immediate street and neighbourhood context, particularly in terms of living space and assessed value. This can signal a stable, established area without premium pricing. The home’s age and smaller lot size compared to city-wide averages suggest it is best suited for a buyer comfortable with the charm and potential maintenance considerations of an older home, or someone looking for a more manageable outdoor space. It would likely suit a first-time homebuyer, an investor looking for a character rental, or a downsizer seeking a home with traditional features in a central community. A thoughtful perspective is that its "average" metrics within the local area could indicate less volatility and more predictable value, offering a grounded entry point into the market.

Frequently Asked Questions

1. What does it mean that the basement is "not renovated"?
This typically indicates the basement remains in a largely original or utilitarian state. It may be unfinished or partially finished with older materials, presenting either a blank canvas for future development or a space suited for basic storage and mechanical systems.

2. How should I interpret the assessed value versus recent sold prices?
The assessed value for municipal tax purposes is $23,800. Recent sold price ranges show the home traded between $22,500-$25,500 in late 2024. This close alignment suggests the market price is tracking reasonably with the city's assessment, but a professional appraisal is always recommended for financing.

3. Is the smaller lot size a disadvantage?
While the lot is below average in size city-wide, it is more in line with the scale of older neighbourhoods. This can mean lower maintenance, which is an advantage for some, but may limit options for large additions or extensive landscaping.

4. What are the implications of the home's age (1914)?
A 110-year-old home offers character but requires diligent inspection. Key considerations will be the condition of foundational elements, plumbing, electrical systems, and the roof. It also may have features like original hardwood floors or trim that add value but come with a need for care.

5. How stable has the home's value been?
Based on the limited sales data shown, the home sold for approximately $19,500-$22,500 in 2017 and $22,500-$25,500 in 2024. This suggests a modest increase over that seven-year period, consistent with a mature property rather than a high-appreciation investment.