Property Summary: 323 Kilbride Avenue, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1912, presents a classic character property with a practical layout. Its key appeal lies in its generous 1,444 sqft of living space, which is notably larger than most homes on its street and in the wider Jefferson area. This offers significant value for buyers seeking room to grow without the premium price tag of a newer, similarly sized home. The property sits on a standard city lot and features a basement that is functional but not renovated. There is no garage or pool.
The home’s assessed value is relatively low for the city and the neighborhood, which can be attractive for budget-conscious buyers or investors. Its age and condition suggest it is likely a "value-add" opportunity, well-suited for a handy buyer or someone with a renovation plan who can appreciate the solid foundation and spacious floor plan. It’s a pragmatic choice for those who prioritize interior space and potential over modern finishes and extensive outdoor amenities. A thoughtful perspective is that its lower assessment, compared to its above-average living area for the locale, could indicate a favorable property tax position relative to the usable space you acquire.
Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
It indicates the basement is functional and usable for storage or utilities, but it has not been modernized or finished into a living space like a rec room or suite. Buyers should budget for any desired upgrades.
2. The home is over 110 years old. What should I be concerned about?
While offering classic charm, key considerations for a home of this age include the condition of the foundation, plumbing, electrical systems (e.g., knob-and-tube wiring), and the roof. A thorough home inspection is essential.
3. The assessed value seems low compared to recent sale prices. Why?
Municipal assessed values for tax purposes often lag behind current market values and are calculated using mass appraisal techniques. The sale price is determined by what a buyer is willing to pay in the current market.
4. There's no garage. What are the parking options?
The property likely relies on on-street parking. It’s important to check local parking regulations and typical availability on the street to ensure it meets your needs.
5. The living area is large for the area, but the lot is average. What does this mean?
This suggests the home’s footprint utilizes a good portion of the lot, which is common for older homes. It provides ample indoor living space but may mean a more modest or typical-sized backyard compared to newer suburban lots.