Property Overview & Appeal

This one-storey home at 469 Brooklyn Street in Winnipeg's King Edward neighbourhood presents a specific and compelling opportunity. Its key characteristic is a significant imbalance between its very low municipal assessed value and its above-average land size. At approximately 4,594 sqft, the lot is notably larger than most in the immediate area and sits well above the city average for similar homes. The living space (1,098 sqft) is also comfortably above the local average. However, the home itself is older (built in 1918) and has an assessed value that ranks in the bottom 15% locally, suggesting it may require modernization or significant work.

The primary appeal lies in this land-value proposition. It suits a buyer looking for a footprint in a central neighbourhood, with the vision and budget for a major renovation, a potential rebuild, or simply someone who prioritizes generous outdoor space over a turn-key home. It’s a property for value-driven investors, hands-on homeowners, or those viewing it as a long-term hold based on its underlying asset—the land.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
The assessed value is typically based on the property's current state and recent sales of comparable homes. A low assessment on a large lot often indicates the home itself requires substantial updates, repairs, or may have functional limitations compared to modern standards.

2. What does "Sold 8/2019 13.50k ~ 16.50k" refer to?
This is an estimated sold price range from August 2019, based on publicly available data. The exact sale price is not disclosed in public records. The current listing price would be set independently of this several-year-old sale.

3. Is this a good candidate for adding a second storey or expanding?
Given the generous lot size and the one-storey structure, there is likely physical space for an expansion. However, any major renovation or addition would require careful review of local zoning bylaws, heritage considerations (given the age), and obtaining the necessary permits.

4. How does the lack of a basement or garage impact value and utility?
The absence of a basement reduces traditional storage and mechanical space, which may affect value. The lack of a garage is common in older neighbourhoods but is a consideration for vehicle storage and workshop space. The large lot may offer alternative solutions, like adding a shed or future garage, subject to regulations.

5. You offer to provide the exact 2019 sold price by email. Why isn't it just listed?
Manitoba is a non-disclosure province, meaning exact sale prices are not part of the public record. The provided range is an estimate. We can sometimes obtain the exact figure through other means and share it directly with serious inquiries, as a courtesy service.