Property Overview: 354 Kensington Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a compact, one-storey home built in 1914, presenting a straightforward and affordable entry point into Winnipeg’s Kensington neighborhood. With 742 square feet of living space and an unrenovated basement, it is notably smaller and older than most homes in the city. Its key appeal lies in its low assessed value, which places it well below area and city-wide averages, suggesting a potentially low property tax burden and an accessible price point. The lot size of 2,502 sqft is fairly average for its immediate street, offering a manageable outdoor space.
This property would primarily suit a very budget-conscious first-time buyer, an investor looking for a rental property with low carrying costs, or someone seeking a minimalist footprint. Its value is functional rather than luxurious, appealing to those who view a home as a practical necessity and are willing to accept its dated condition and size limitations. A less obvious perspective is that its consistent below-average metrics across the board indicate it’s a stable, no-frills asset in a market where many properties are larger and more updated, potentially offering insulation from the higher costs and competition associated with more typical homes.
Frequently Asked Questions
1. Why is the assessed value so much lower than the average?
The assessed value reflects the home’s smaller size, older age, and lack of renovations compared to most properties in Winnipeg. This results in a lower valuation for municipal tax purposes.
2. What does "Top 75%" or "Top 94%" mean for the Living Area?
These rankings show how this home compares to others. For example, "Top 94% citywide" means its living area is smaller than approximately 94% of homes in Winnipeg, placing it in the bottom 6% for size.
3. Is the unrenovated basement finished?
The listing specifies the basement is "not renovated," which typically means it is unfinished or in original condition, offering utility space or storage but not additional living area.
4. How reliable are the sold price ranges shown?
The ranges are based on public data. For the exact historical sale prices, you must request the information directly via the provided email link, as the site manually verifies and supplies those figures.
5. Given its age, what should I be most concerned about?
As a 112-year-old home, prospective buyers should prioritize inspections for foundational integrity, outdated plumbing and electrical systems, and energy efficiency. The age suggests potential for higher maintenance costs despite the low assessed value.