Property Overview: 171 Kennington Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Dakota Crossing presents a practical opportunity. Built in 1985, it offers 1,268 sqft of living space, which is notably above average for its immediate street. A key feature is its renovated basement, adding functional living area. The lot size is a standard 4,798 sqft, typical for the neighbourhood.
The primary appeal lies in its value positioning. The home’s assessed value is significantly below average for both the street and Dakota Crossing, which can suggest a lower property tax burden relative to nearby homes. However, it last sold in 2019 for $320,000, a price well above its assessed value, indicating strong market demand for the area. This creates an interesting dynamic: it's a home with modest official valuation in a sought-after location.
This property would suit a value-conscious buyer looking for a home with updated fundamentals (like the basement) in an established neighbourhood. It’s ideal for someone who prioritizes living space and location over a newer build date, and who understands the potential difference between assessed value and market price. The lack of a garage means it may appeal more to buyers comfortable with street parking or adding a structure later.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the 2019 sale price?
Municipal assessments for property taxes often lag behind market sale prices and are calculated using mass appraisal techniques. A lower assessment doesn't mean the home will sell for less; it primarily indicates a relatively lower property tax base compared to neighbours.
2. How does the living space compare to nearby homes?
At 1,268 sqft, this home offers more living area than most on Kennington Bay (ranking in the top 8% on the street). It provides more interior space than the typical home in this specific part of Dakota Crossing.
3. What does the "below average" year built ranking mean?
On its street and in Dakota Crossing, most homes are slightly newer. Built in 1985, this home is among the older in the immediate area but is still newer than the average Winnipeg home citywide. This suggests a mature, established streetscape.
4. Is the lack of a garage a significant drawback?
This depends on buyer needs. Many homes in older Winnipeg neighbourhoods lack garages. The standard lot size provides potential space to add one, subject to permits and bylaws. For some, the trade-off for location and interior space is acceptable.
5. What is the neighbourhood context of Dakota Crossing?
Dakota Crossing is a mature suburban neighbourhood. The data shows homes here have a wide range of assessed values and sizes. This property sits in a segment with more modest valuations, which can be appealing for long-term affordability and stability.