Property Overview: 449 Roseberry Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1918, presents a classic Winnipeg character property with a practical footprint. Its key appeal lies in its positioning as a modest, entry-level home in the established King Edward neighbourhood. At 1,060 sqft, the living space is notably above average for similar homes on its street and in the local area, suggesting a efficient or well-proportioned layout for its era.

The most defining characteristic is its financial profile. The property’s assessed value is significantly below average at every comparison level—street, neighbourhood, and city-wide. This creates a distinct opportunity for value-seeking buyers, such as first-time homeowners, investors looking for a rental property with a lower entry point, or those comfortable with a renovation project. The lot size, while smaller than the city average, is typical for the area, offering manageable outdoor space.

This home would suit a pragmatic buyer who prioritizes location and potential over turn-key perfection. It’s a candidate for someone willing to invest sweat equity or capital over time to modernize systems and finishes. Its below-average valuation also suggests it could be a strategic purchase for someone looking to minimize property tax burden relative to usable living space.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than other homes?
Assessed value is based on a mass appraisal system considering factors like age, size, location, and recent sales. A value this far below averages, especially with above-average living area for the street, often indicates the assessment reflects the home’s original condition and may not account for potential after updates. It’s a starting point for valuation, not a market price.

2. What does "one-and-a-half storey" typically mean for a 1918 home?
This style usually features a main floor with principal rooms and a second floor under sloped roofs, creating cozy bedrooms with potentially lower ceilings. It’s classic Winnipeg architecture but may have less full-height, square footage on the upper level compared to a two-storey.

3. Are the sold price ranges from 2020 relevant today?
The last known sale was in early 2020. These figures provide historical context but do not reflect current market conditions. Significant market shifts have occurred since then, so a current appraisal or comparative market analysis is essential.

4. The home lacks a basement and garage. How big of a limitation is this?
The absence of a basement limits traditional storage and utility space and may mean mechanical systems are on the main floor. No garage is common for the area but requires on-street parking. Buyers should consider their storage needs and vehicle arrangements.

5. What are the less obvious things to consider with a home of this age and value?
Focus on the major systems: the condition of the roof, wiring, plumbing, and foundation. A lower purchase price can be quickly offset by necessary major repairs. Also, investigate if the low assessment is influenced by specific factors like a heritage designation or known deficiencies that would require disclosure.