Property Summary: 386 Kensington Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on Kensington Street is defined by a compelling contrast: a modest, unrenovated 714 sqft house sitting on a significantly larger-than-average lot. Its assessed value is around the local average, but the true standout feature is the land. The 5,004 sqft lot ranks in the top 3-6% within the Kensington area, offering a rare amount of outdoor space for the neighbourhood.
The appeal lies in this potential. The home itself, built in 1953 with an unfinished basement, presents a straightforward canvas. It suits a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who values space over immediate finish. This buyer is likely comfortable with a home that may need updating, seeing the substantial yard as the primary asset for gardening, recreation, or future expansion. It’s a property where the value is more in the land and location than in the current condition of the dwelling, offering a foothold in the area without a premium price for a turnkey home.
Section 2: Frequently Asked Questions
1. Is the house in move-in condition?
Based on the details, the home is likely functional but basic. The mention of an unrenovated basement suggests the overall property may require cosmetic updates or maintenance to suit modern tastes.
2. Why is the assessed value average when the lot is so large?
The assessed value reflects the current state of the entire property. The larger lot adds value, but this is balanced by the home's smaller size and unrenovated condition, resulting in a valuation that aligns with the local average for houses.
3. What can I do with such a large lot?
Beyond a generous private yard, the lot size offers long-term potential not found in many infill properties. It could accommodate additions like a large garage, workshop, or garden suite (subject to city zoning and permit approval), or simply provide exceptional outdoor living space.
4. How accurate are the sold price ranges shown?
The provided ranges are based on public data. For precise historical sale figures, you must request the exact sold price history via the email service described, which manually verifies the information.
5. How does this home compare to others nearby?
It has less living space than most area homes but a considerably larger lot. Compared to city-wide averages, the house is smaller and valued lower, but within the Kensington area, it holds its own in value while offering a standout parcel of land.