Property Overview
458 Kent Road is a one-storey home in Winnipeg's East Elmwood neighbourhood. Built in 1955, it sits on a 4,954 sqft lot and features 888 sqft of living space, a detached garage, and no basement. Its most recent recorded sale was in July 2017 for $190,000, while its current assessed value is notably lower at $21,800.
Section 1: Key Characteristics & Appeal
This home presents a straightforward, compact living option. Its key appeal lies in its manageability and lot size. The 888 sqft floor plan is modest, ranking below the city average for living space, which translates to lower utility costs and minimal upkeep. The nearly 5,000 sqft lot is a standout feature for East Elmwood, offering above-average outdoor space for the area—a valuable asset for gardening, recreation, or future expansion.
The property suits first-time buyers or downsizers seeking an affordable entry into the Winnipeg market with a focus on land over square footage. It’s also a practical candidate for investors looking for a rental property with lower property tax obligations due to its low assessed value. A less obvious perspective is its potential as a "value-hold" property; the significant discrepancy between the last sale price and the current assessed value may attract buyers speculating on future assessment adjustments or neighbourhood renewal.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the 2017 sale price?
Property assessments in Manitoba are based on a mass appraisal system and may not always reflect immediate market sales. This gap could be due to the assessment being older, the specific characteristics of the home, or broader market shifts. It's essential to get a current market evaluation.
2. What does "no basement" mean for this home?
The home is built on a slab foundation, so there is no below-grade basement for storage, utilities, or living space. All mechanical systems and living areas are on the main floor, which can be an advantage for accessibility but reduces storage options.
3. How does the lot size compare to the neighbourhood?
At 4,954 sqft, the lot is actually above average for East Elmwood. This is one of the property's stronger features, providing more private outdoor space than many nearby homes.
4. Who would this home not be suitable for?
It may not suit growing families needing multiple bedrooms or more indoor living space, or buyers who require significant storage or workshop areas that a basement typically provides.
5. What should I consider about the home's age?
Built in 1955, the home is of average age for its area. Prospective buyers should pay close attention to the condition of major aging components, such as the roof, wiring, plumbing, and windows, during an inspection.