Property Overview: 396 McKenzie Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on McKenzie Street in the Inkster-Faraday neighbourhood presents a straightforward, no-frills opportunity. Its key characteristic is a significant contrast: the living space is compact at 672 sq ft, ranking well below average for the area, but it sits on a lot that is larger than most on its street at 3,922 sq ft. Built in 1941, the house is typical for its vintage and includes a basement (not renovated) and a detached garage. The assessed value is modest and in line with local averages.
The appeal lies in its potential as a practical entry point into homeownership or as a strategic investment property. The below-average living area suggests a lower price point and manageable upkeep, while the above-average lot size offers valuable outdoor space and future potential that is rare for the street. It would suit a first-time buyer comfortable with a cozy footprint, an investor looking for a rental with a stable assessed value, or a buyer who prioritizes land over a large existing house and sees value in the possibility of expansion or redevelopment down the line. It’s a property for those who view the home itself as a solid starting point, with the land beneath it as a key part of its long-term value.
Section 2: Frequently Asked Questions
1. What is the exact recent sale price?
Exact sold prices are not publicly displayed in detail. Available data indicates it last sold between $12.5k and $15.5k in May 2017. The current listing price can be confirmed with the seller’s agent.
2. How does this home compare to others in the area?
The data shows a clear profile: you are buying a smaller-than-average house on a larger-than-average lot for this specific street. Compared to the wider city, both the house and lot size are below average, which is reflected in its modest assessed value.
3. What is the condition of the basement?
The listing specifies the basement exists but is "not renovated." Prospective buyers should budget for potential updates and include a thorough inspection to assess its current condition and any necessary repairs.
4. Is there potential to expand or rebuild given the lot size?
The lot is notably larger than many on the street, which is a positive factor for future potential. However, any expansion or rebuild would be subject to local zoning bylaws, building codes, and permit approvals. This is a question for the city’s planning department.
5. What are the typical property taxes for a home with this assessed value?
Property taxes are calculated using the City of Winnipeg’s mill rate applied to the assessed value. With an assessed value of $16,800, the annual taxes would be relatively low, but you should calculate the exact amount using the current mill rate for a precise figure.