Property Overview: 521 Kavanagh Street, Winnipeg
Key Characteristics & Appeal
This is a classic two-storey home built in 1911, offering 1,080 square feet of living space with a detached garage and a full, unrenovated basement. Its primary appeal lies in its positioning as a character home with practical fundamentals in the Dufresne neighborhood. The living area is notably above average for its immediate street and is competitive within the local area, suggesting a comfortable footprint for a small household or first-time buyer.
The data reveals a thoughtful perspective: this property represents an opportunity to enter the market at a point below typical assessed values for the city and even its own street. While the home is older and the basement is in original condition, this also means it presents a clear canvas for updates, allowing a buyer to add value over time. It would suit a pragmatic buyer—perhaps a first-time purchaser, an investor, or a downsizer—who is comfortable with a home that has good bones but may require modernization. The lot size is standard for the area, offering typical outdoor space without extensive maintenance demands.
Frequently Asked Questions
1. Why is the assessed value significantly lower than nearby averages?
The assessed value is influenced by several factors from the data, primarily the home's age (1911) and the fact that key areas, like the basement, are noted as not being renovated. This suggests the official assessment reflects the home in its current, original condition.
2. What does "Top 27% for Living Area on Kavanagh Street" mean?
It means this home's interior space is larger than 27% of the 37 comparable homes on its street. In simpler terms, it has above-average square footage for its immediate block, which is a positive standout feature.
3. Is the unrenovated basement a major concern?
It is a defining characteristic. It's not a finished living space but offers full utility/storage potential. It should be inspected thoroughly, as it represents both a current cost-saving factor in the price and a future opportunity (or expense) for development.
4. How does the 2016 sale price relate to today's value?
The 2016 sale of $19,600k provides historical context but is not a direct indicator of current market value. The more relevant figure is the current assessed value, which is used for property tax purposes and is typically based on recent area sales and the home's condition.
5. Are older homes like this expensive to maintain?
Potentially, yes. A home from 1911 will likely require more attention to systems like plumbing, electrical, and insulation compared to a newer build. The appeal for the right buyer is the trade-off: a lower entry price for a character home, with the understanding that maintenance and updates are part of the long-term plan.