Property Overview: 484 Kavanagh Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Dufresne presents a practical opportunity in Winnipeg's market. Built in 1948, its 1,015 sqft living space and 4,253 sqft lot are squarely average for the immediate neighborhood, offering a manageable scale for upkeep. A key characteristic is its value positioning: while the home's size is modest citywide, its assessed value ranks well above average for both Kavanagh Street and the Dufresne area. This suggests it may be perceived as a solid asset within its local context. The property includes a detached garage and an unrenovated basement, pointing to a home that is functional as-is but holds potential for future updates.
Its appeal lies in its neighborhood standing and simplicity. It suits a first-time buyer or pragmatic investor looking for an entry point into a stable area without a massive renovation project already completed. The buyer should be comfortable with a home whose core systems and layout reflect its era, seeing the unrenovated spaces as a canvas rather than a drawback. A less obvious perspective is that its strong local assessment, contrasted with its last sale price in 2023, could indicate a neighborhood on an upward trajectory or a property with untapped equity, making it interesting for those with a medium-term view.
Frequently Asked Questions
1. How does this home compare in size and value to its neighbors?
Within the Dufresne area and specifically on Kavanagh Street, the living space is around the local average. However, its assessed value is in the top 25% locally, meaning it holds a higher value perception per square foot than many comparable homes nearby.
2. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloping roof lines, often containing cozy bedrooms or finished attic space. It's a classic Winnipeg design that can offer character but may have less full-height space than a true two-storey.
3. Is the basement usable?
The listing notes the basement exists but is "not renovated." It provides essential mechanical space and storage, but any finished living area would require a future investment.
4. What is the significance of the 2023 sale price?
The home sold for $310,000 in March 2023. This recent transaction provides a concrete market benchmark, useful for understanding current price dynamics relative to its older assessed value.
5. Who would this property not suit?
It may not suit buyers seeking a modern, move-in-ready home with open-concept layouts or those needing extensive, main-level living space. The property appeals more to those valuing location and lot potential over immediate turn-key condition.