Property Overview: 538 Kavanagh Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1912, presenting a unique opportunity in Winnipeg’s Dufresne neighborhood. Its key characteristic is its scale: with a living area of just 426 sqft and a land area of 1,971 sqft, it is notably smaller than almost all comparable properties in its immediate area, the wider neighborhood, and the city. This is reflected in its very low municipal assessed value.
The primary appeal lies in its potential as an affordable entry point into homeownership or as a strategic investment property. It suits a very specific type of buyer: those seeking a minimal footprint, such as a single person or a couple comfortable with compact living. It could also appeal to an investor looking for a rental property with lower upfront costs, or a buyer with plans for a significant renovation or rebuild, given the lot provides the underlying land value. A less obvious perspective is that its distinctively small size and low taxes could offer a lifestyle of radical simplicity and low overhead, which holds a specific, practical charm beyond just the price tag.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
The municipal assessed value is for taxation purposes and often lags behind market sales. The 2021 sale price of $160,000 is likely a better indicator of its recent market value, though conditions may have changed since then.
2. What does "basement, not renovated" imply?
It confirms the house has a basement, but it is in original or unfinished condition. Buyers should budget for potential moisture issues, necessary structural updates, or a desire to finish the space to add livable area.
3. Is this a "tear-down" property?
Given its age, small size, and the value lying primarily in the land, it is a candidate for redevelopment. However, this depends on local zoning bylaws, the condition of the existing structure, and the buyer's goals. A full inspection is essential to make that determination.
4. How does the lack of a garage affect daily living?
With no garage, on-street parking is the likely scenario. Buyers should assess street parking availability in the neighborhood, especially during Winnipeg winters, and consider the impact on vehicle maintenance and convenience.
5. What should I consider about the neighborhood rankings shown?
The data consistently shows this property ranks at or near the bottom for size and value within its peer groups. This isn’t inherently negative—it simply confirms its status as an outlier. It emphasizes that you are purchasing the least typical home on the street, which can mean affordability but also requires a mindset comfortable with being different from neighboring properties.