428 Edgewood Street

Property Overview

This one-and-a-half storey home on Edgewood Street is a classic Norwood East character property built in 1909. Its primary appeal lies in its combination of a generous, well-ranked 2,500 sqft lot in a sought-after neighbourhood and a very modest property tax base due to its low assessed value. The living space is 936 sqft and includes a basement, though it is not renovated. There is no garage or pool. The data suggests a property with solid fundamentals—a large lot in a top-tier neighbourhood—that presents as a clear renovation or redevelopment opportunity rather than a move-in-ready home. It would suit a buyer looking for a footprint in a prime location, whether that's a hands-on renovator attracted by the low tax burden, an investor eyeing future value, or someone considering a long-term build on a sizable lot.

Key Details & FAQs

• What is the neighbourhood like? Norwood East is consistently ranked among Winnipeg's most desirable neighbourhoods. This property's land size is in the top 2% for the area, meaning you're getting a larger-than-typical lot in a prime location.
• Why is the assessed value so much lower than nearby homes? At $19,900, the assessment is significantly lower than many listings in the area. This typically reflects the home's age, condition, and lack of recent updates, not the land value. It results in lower property taxes, which is a key financial advantage for a renovation project.
• What does "one-and-a-half storey" mean? This is a common architectural style for the era, often featuring a main floor with principal rooms and a second floor under sloping roof lines, which may have smaller rooms or cozier ceilings. It offers classic charm but may have space limitations compared to a full two-storey.
• Is the basement usable? The listing confirms a basement exists but notes it is "not renovated." Buyers should budget for potential moisture-proofing, insulation, and finishing to make it a functional space.
• Who would this property suit best? This home is a project. It best suits a buyer with a vision—whether to meticulously restore its character, modernize it completely, or eventually redevelop the large lot. Its appeal is fundamentally about location and potential, not immediate comfort.