Property Overview: 327 Keenleyside Street, Winnipeg
Key Characteristics & Appeal
This one-storey home in East Elmwood presents a practical and value-oriented opportunity. Its key appeal lies in a clear contrast: while the living space (869 sqft) is modest and below average for the area, the property sits on a larger-than-average lot (4,870 sqft) for its immediate street. This combination suggests potential for expansion or outdoor enjoyment. The home features a renovated basement and a detached garage.
The data reveals a nuanced value proposition. The assessed value ranks above average for both the street and the East Elmwood neighborhood, yet below the city-wide average. This indicates you’re investing in a well-regarded spot within this specific community. Recent sale history shows significant price appreciation, with the last sale in 2023 at $340k, well above previous sales in 2021 and 2020.
This property would suit a first-time buyer or a downsizer looking for a manageable, single-level footprint in an established neighborhood, with the lot size offering a future option. It’s also a candidate for a buyer with renovation plans, where the existing structure can be improved or expanded upon over time. A less obvious perspective is its appeal to a value-focused investor; the strong performance within the local market context, coupled with the renovated basement, could make it a viable rental property.
Frequently Asked Questions
1. Is the house too small?
At 869 sqft, the living area is compact and below the average for both the street and Winnipeg overall. However, the renovated basement adds functional space. This layout is best for individuals, couples, or small families comfortable with efficient living.
2. Why is the assessed value higher than many neighbors if the house is smaller?
The above-average assessment for the street and neighborhood likely reflects the renovated basement, the larger lot size, and the general desirability of this specific location within East Elmwood. It suggests the property’s components are valued highly in the local market.
3. What does the large lot size mean for me?
The nearly 5,000 sqft lot is a standout feature. It provides ample private outdoor space, room for gardening, and a notable buffer from neighbors. Critically, it also offers a tangible future opportunity for additions like an extension, a large deck, or a workshop.
4. How stable is the property’s value based on its sales history?
The home has sold three times since 2020, with each sale price significantly higher than the last ($220k in 2020, $300k in 2021, $340k in 2023). This indicates strong recent appreciation, but as with all markets, future performance depends on broader economic conditions.
5. What are the immediate next steps likely to be for maintenance or updates?
Built in 1956, the home is of average age for the area. While the basement is renovated, a prospective buyer should budget for and investigate the condition of major aging systems typical for a home of this era, such as the roof, plumbing, electrical, and the foundation.