Property Overview: 413 Mckenzie Street, Winnipeg
Key Characteristics & Appeal
This is a modest, century-old home (built 1909) in the Inkster-Faraday neighbourhood, presenting a straightforward opportunity in Winnipeg’s market. Its key characteristic is its positioning as one of the most affordable entry points into homeownership in the city. With 1,058 sqft of living space, the house is functionally sized, ranking around average for its immediate area. The basement exists but is noted as not renovated, and the property has no garage or pool.
The primary appeal lies in its exceptionally low financial barrier. The assessed value is among the lowest in Winnipeg, placing it in the bottom 2% city-wide. This is reflected in its recent sale history, with a transaction in the low-to-mid teens. For a certain buyer, this represents a rare chance to secure a detached house with a land title for a price often associated with a down payment elsewhere. It suits pragmatic, hands-on buyers such as first-time investors looking for a cash-flow focused rental, a contractor seeking a live-in renovation project, or someone prioritizing minimal mortgage debt over modern finishes. Its average lot size for the street offers typical city-lot potential. The appeal is fundamentally utilitarian: value is derived from what can be done with the property, not from its current condition.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is based on market value for taxation. A value this low typically reflects the home’s age, its unrenovated state, and market conditions in its specific area. It indicates this is a baseline property in Winnipeg’s market.
2. What does "basement, not renovated" imply?
It confirms the basement exists but is in original or utilitarian condition. Buyers should budget for potential moisture issues, outdated systems, and finishing costs if living space is desired. An inspection is crucial.
3. Who would this property not suit?
It would not suit buyers seeking a move-in ready home, those unwilling to handle ongoing maintenance of a 117-year-old structure, or anyone who prioritizes modern amenities and curb appeal.
4. The sold price history shows a range. What’s the exact price?
The exact sale price is not publicly listed in the database. You can request it directly via the email button provided on the listing page; the service aims to provide the figure manually by the end of the same day.
5. How does its age affect insurance and renovation plans?
Insuring a home built in 1909 may come with higher premiums or specific requirements (e.g., updated electrical). Any significant renovations will likely need to bring elements up to current building codes, which can increase project scope and cost compared to a newer home.