Property Overview: 221 Kilbride Avenue
Key Characteristics & Appeal
This is a compact, one-storey home built in 1922, situated on a modest lot in Winnipeg's Jefferson neighbourhood. Its primary appeal lies in being an affordable, no-frills entry point into homeownership. With a living area of 686 sq ft and a recently renovated basement, it offers functional space for a small household. The detached garage adds practical storage or workshop potential.
The home’s assessed value is notably below average for both the neighbourhood and the city, suggesting a lower property tax burden and an accessible price point. Its standout characteristic is its efficiency: it ranks significantly higher for its assessed value than it does for its size or lot, indicating you may be paying more for the land and location than for the building itself. This property would suit first-time buyers, downsizers, or investors looking for a straightforward, low-maintenance asset. Its charm is not in grandeur, but in simplicity and potential, offering a chance to build equity in a well-established area without a massive initial investment.
Frequently Asked Questions
1. Is the home in good condition given its age?
While the basement is noted as renovated, the main structure is over 100 years old. A thorough inspection is essential to understand the condition of core systems like wiring, plumbing, and the foundation.
2. How does the small lot size affect me?
The lot is smaller than most in the area, which means lower maintenance but also limited outdoor space for gardening, expansions, or large gatherings. It contributes to the home's affordability.
3. What does the assessed value tell me about the likely selling price?
The assessed value for taxation ($22,300) is a municipal estimate for tax purposes and is typically much lower than market value. Recent nearby sales data, like the referenced 2020 sale in the $16.5k-$19.5k range, is a more relevant, though outdated, benchmark. Current market conditions will determine the final price.
4. Who are the typical neighbours?
With homes on the street built primarily between the 1910s and 1940s, the area likely has a mix of long-term residents and newer owners. The consistent, compact lot sizes suggest a stable, established streetscape.
5. What are the long-term prospects for this property?
Its value is likely tied closely to land value in Jefferson. Future appreciation may depend more on neighbourhood development and market trends than on the structure itself, making it a pragmatic rather than a speculative investment.