Property Overview: 242 Kilbride Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This is a compact, one-storey home built in 1902, offering a straightforward and affordable entry point into Winnipeg’s Jefferson neighbourhood. With 698 square feet of living space and an unrenovated basement, it presents as a functional blank slate. Its key appeal lies in its low financial barriers, evidenced by an assessed value significantly below area averages and a last known sale price in a very accessible range. The lot size is fairly typical for the immediate street, providing adequate outdoor space.
This property would primarily suit a first-time buyer, an investor, or a hands-on individual comfortable with a home that may require updates over time. Its below-average costs for taxes and purchase could free up capital for gradual improvements. A less obvious perspective is its potential as a strategic hold in a city where even modest, older homes on their own lots offer a form of stability and land ownership rarely found in new builds at this price point. It’s a practical choice for those prioritizing ownership itself over move-in-ready finishes.
Frequently Asked Questions
1. What does "below average" for assessed value actually mean for me?
It primarily indicates your property taxes will likely be lower than those on many neighbouring homes. It reflects the city's valuation, not necessarily the market sale price, but often correlates with a more affordable purchase point.
2. The home is noted as being from 1902. Should I be concerned?
Expect older building materials and systems. A thorough inspection is essential to understand the condition of the foundation, wiring, and plumbing. While it requires diligence, many homes of this era in Winnipeg have been steadily maintained for over a century.
3. How usable is the basement?
The listing specifies it is "not renovated." This typically means it is in a rough, unfinished state suitable for storage and utilities, but not as livable space without significant investment.
4. Is the lot size a pro or a con?
At just under 3,750 sq. ft., it’s average for Kilbride Avenue but smaller than many city lots. This means less yard maintenance, but also less private outdoor space. It’s a manageable size for a first home.
5. Who are the most likely neighbours or buyers for similar homes on this street?
Given the size, age, and value metrics, the street likely consists of other modest, older homes occupied by long-term residents, first-time homeowners, and investors. It represents a working-class and entry-level segment of the Jefferson area.