Property Overview & Appeal
This one-and-a-half storey home, built in 1918, presents a classic Winnipeg character property in the Kensington neighbourhood. With 930 square feet of living space and a full, unrenovated basement, it sits on a 3,695 sqft lot. Its key appeal lies in its positioning as a relatively affordable entry point into a central area. The home's assessed value is modest and in line with its immediate street and neighbourhood, making it stand out as a value-conscious option within the city context.
The property would suit a first-time buyer, an investor, or a hands-on homeowner comfortable with a home that has retained its original basement condition. Its charm is rooted in its history and location rather than modern finishes, offering a canvas for personalization. A thoughtful perspective is that while its size is below the city average, it is quite typical for its specific area, suggesting a chance to own a character home without the premium often attached to larger, modernized properties. The lot size, while smaller than some on its street, still offers reasonable outdoor space for the neighbourhood.
Frequently Asked Questions
1. What does "one-and-a-half storey" typically mean for a 1918 home?
This style usually features a main floor with principal rooms and a second floor under sloping roof lines, often creating cozy bedrooms with unique character. Ceiling heights on the upper level may be lower in certain areas.
2. The assessed value seems very low compared to the city average. Why?
The assessed value is based on the property's specific characteristics and is calibrated against similar homes in its area. This figure reflects its age, size, and condition relative to the local market, not city-wide new construction, which explains the significant difference from the Winnipeg average.
3. Is the unrenovated basement a major concern?
It represents both a consideration and an opportunity. It will likely require inspection for moisture, insulation, and foundational integrity. However, it also provides blank-slate potential for future finishing, storage, or utility upgrades without the need to undo previous renovations.
4. How does the living space compare to nearby homes?
At 930 sqft, it is slightly below the average for Madison Street itself but very close to the average for the broader Kensington area. This indicates the home's size is quite typical for this established, central neighbourhood.
5. What can the past sold price range tell me?
The 2017 sale price range provides a historical benchmark, showing the property's market value from that time. It is most useful when compared to its assessed value and the sale prices of similar nearby homes to gauge market trends and the home's relative value trajectory.