Property Overview

116 Queenston Street is a well-established two-storey home in Winnipeg's Wellington Crescent area. Built in 1925, it sits on a 4,300 sqft lot and features 1,828 sqft of living space, a renovated basement, and a detached garage. Its appeal lies in its solid location within a desirable neighbourhood, offering a balance of character and practicality. The home suits buyers looking for a move-in-ready property with classic roots, without the premium price tag of newer or larger homes on the street. It represents an opportunity to enter a top-tier neighbourhood where the value is often found in the land and location, with the house itself providing comfortable, updated living space.

Key Details & Suitability

• Key Characteristics: This 101-year-old home is positioned on a lot size that ranks in the top 10% for Queenston Street, suggesting a generous outdoor space for the area. While the living area is more modest relative to the street, it includes the practical advantage of a renovated basement. Recent sale history shows steady value appreciation.
• Where its Appeal Lies: The primary appeal is location within Wellington Crescent. The property offers a "best of both worlds" scenario: a historic neighbourhood charm with a home that has received key modern updates (like the basement). Its assessed value is notably lower than many nearby properties, which could indicate a more accessible entry point into the area or potential for future value growth as the neighbourhood continues to be sought-after.
• Suitable Buyer Profile: This home is ideal for small families, couples, or professionals who prioritize location and a manageable property size over a brand-new build. It would suit a pragmatic buyer who appreciates character but doesn’t want a major renovation project, thanks to the updated basement. It's also a sensible option for those viewing real estate as a long-term investment in a stable, high-ranking neighbourhood.

Frequently Asked Questions

1. How does the age of the home affect maintenance?
While the home is over a century old, the renovated basement suggests some key systems or spaces have been updated. Buyers should still budget for and investigate the condition of age-related components like the roof, original plumbing, and electrical systems, which are common focal points in homes of this era.

2. The living area is ranked lower for the street. Does the home feel small?
At 1,828 sqft, the home is certainly livable, but the ranking indicates that many neighbouring properties are larger. The renovated basement effectively adds functional space. The generous lot size (4,300 sqft) also means outdoor space compensates, offering room for gardens, play, or entertainment that larger homes on smaller lots may not have.

3. What does the sold price history tell us?
The home sold for $430k in 2016 and $475k in 2020, showing consistent appreciation. This trend suggests a stable investment in a desirable area. The current assessed value of $55.10k is for tax purposes only and is not an indicator of market value.

4. Who might the detached garage appeal to?
Beyond vehicle storage, a detached garage is a significant asset for hobbyists, woodworkers, or those needing a workshop space. It also provides flexible storage solutions, keeping seasonal items or equipment out of the main house, and offers potential for conversion into a studio or home office (subject to local bylaws).

5. The neighbourhood ranking is high, but what does that mean day-to-day?
A top 24% ranking in Wellington Crescent signifies proximity to some of the city's most prestigious properties and amenities. Residents typically benefit from quieter, tree-lined streets, well-maintained public spaces, and the general upkeep associated with an established, high-demand community. It's more about the surrounding environment and less about the specific features of this individual property.