Property Overview & Appeal
This one-storey home at 448 Kilbride Avenue is a compact, historically grounded property built in 1914. With 701 square feet of living space on a 2,485 sqft lot and a detached garage, its key characteristics are its modest scale and its position as one of the more affordable entry points into the Winnipeg market. The home’s appeal lies in its simplicity and potential. It suits a specific buyer: someone seeking a minimal footprint, such as a first-time buyer comfortable with a project, an investor looking for a rental opportunity, or an individual seeking an efficient, low-maintenance living space without the burden of a large mortgage. Its below-average assessed value across all comparisons (street, neighbourhood, and city) is its most defining feature, indicating a focus on land and location value over the current structure. A thoughtful perspective is that a home of this age and size offers a chance to customize a space entirely to one's needs without the premium of modern finishes, and its smaller scale can mean significantly lower utility and maintenance costs.
Frequently Asked Questions
1. Is this a "tear-down" or a renovation project?
Given its age (1914), smaller size, and assessed value that is significantly below area averages, the property is likely viewed by the market as a strong candidate for either a substantial renovation or complete redevelopment. Its value is primarily in its land and location.
2. How does the assessed value compare to recent sale prices?
The home last sold in April 2023 for an estimated $17.5k-$20.5k, which aligns closely with its current $17.60k assessed value. A prior sale in 2019 was for less, indicating a stable, low-value price point in recent years.
3. What is the neighbourhood like?
It's located in the Jefferson neighbourhood. The provided data shows that, for Jefferson, this home's living area, land size, and assessed value all rank in the bottom 15% of comparable homes, suggesting it is among the most modest properties in this area.
4. What are the main considerations for living in a home this size?
With 701 sqft, efficient use of space is essential. It would suit a single person, a couple, or someone comfortable with a very compact layout. The lack of a basement also limits storage and utility space, which is a key factor in planning.
5. Why is the city-wide average assessed value comparison so high ($390k)?
The $390k figure is the average for "comparable homes" city-wide, which highlights that this property is not comparable to a typical Winnipeg house. It underscores that this is a uniquely low-value asset in the broader market, operating in a different category than the average family home.