Property Overview
362 Kensington Street is a one-and-three-quarter storey home built in 1918, offering a blend of historic character and practical updates. With 816 square feet of living space, a renovated basement, and a detached garage, it sits on a 2,502 sqft lot in Winnipeg's Kensington neighborhood. Its appeal lies in being a manageable, updated property within a well-established community. The home's assessed value and living space are very typical for its immediate street and area, representing a solid, mid-range option without extreme premiums or compromises. City-wide comparisons show it is more compact and valued lower than the Winnipeg average, which underscores its position as an affordable entry point into the market.
This home would suit first-time buyers or downsizers looking for a low-maintenance footprint without sacrificing functionality. It’s also a practical choice for an investor seeking a character property with recent renovations (like the basement) that appeal to renters. A thoughtful perspective is that while the lot is smaller than many in the city, it offers a manageable outdoor space for those who prefer less yard work, and its "around average" standing on its own street suggests it fits seamlessly into the neighborhood's fabric without standing out as an over- or under-improvement.
Frequently Asked Questions
1. How does the size of this home compare to others in the area?
At 816 sqft, the living area is very close to the average for both Kensington Street (875 sqft) and the wider Kensington area (914 sqft). It is a comfortably sized home for the neighborhood, though notably smaller than the city-wide average.
2. What is the significance of the assessed value?
The assessed value of $22,700 is around the median for the immediate area, indicating the property is priced in line with its local market. It is significantly below the city-wide average assessed value, which often reflects the home's smaller size and older age compared to newer suburban developments.
3. Are there any notable features or updates?
The listing specifically notes a renovated basement, which adds functional living space. The home also includes a detached garage, a valuable asset for parking and storage in an older neighborhood.
4. What is the property's history and how old is it?
The home was built in 1918, making it over a century old. This is typical for the street and area, where homes average from the 1940s. Buyers should anticipate the charm and potential maintenance considerations of a character home.
5. How does the lot size impact the property?
The 2,502 sqft lot is about average for Kensington Street but below the average for the broader Kensington area and significantly smaller than the Winnipeg norm. This translates to less yard maintenance and a more compact outdoor space, which can be a positive for those seeking a low-maintenance property.