Property Overview: 615 Mckenzie Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on McKenzie Street in Inkster-Faraday is defined by its exceptionally large lot—over 9,700 square feet—which stands in the top 1% of the neighbourhood. This generous outdoor space is the property's most distinctive feature, offering rare potential for gardening, expansion, or simply enjoying ample private yard space in the city. The 1,224 sqft living area is comfortably above average for the immediate area, and the home includes a renovated basement and a detached garage.
Its appeal lies in a compelling combination of space and value within its local context. While the 1949 build date means it’s an older home, it has been maintained with updates like the basement renovation. The assessed value of $290k positions it as a premium property within Inkster-Faraday (top 4%), yet it remains below the city-wide average home value, suggesting a strong value proposition for the neighbourhood.
This property would best suit a buyer who prioritizes land size over a new build, such as a DIY enthusiast looking for a project with room to grow, a family desiring a large play area, or an investor seeing long-term potential in a substantial lot. It’s for those seeking a established neighbourhood character and who value outdoor privacy.
Frequently Asked Questions
1. Is the large lot size typical for the area?
No. The lot is exceptionally large, ranking in the top 1% on McKenzie Street and in the entire Inkster-Faraday neighbourhood. Most comparable nearby properties have lots around 3,400-3,600 sqft.
2. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on finish quality, layout, and permits should be verified through a viewing and inspection.
3. How does the assessed value compare to likely selling price?
The $290k assessment is significantly higher than the home's last recorded sale price in 2017. In Winnipeg, assessed value is for taxation and may not reflect current market value. A comparative market analysis is essential to determine a realistic listing or offer price.
4. What are the implications of the home being built in 1949?
Buyers should budget for potential updates to older mechanical systems (like plumbing or wiring) and ensure a thorough inspection. However, the home is notably newer than many in the immediate vicinity, where average build years are around 1929-1930.
5. Why is the city-wide comparison for assessed value so different?
The $290k assessment is below the city-wide average because comparison homes city-wide are valued around $390k. This highlights that this property is a higher-tier home in its specific neighbourhood, but priced below the broader Winnipeg average.