Property Overview: 18 Park Circle, Kern Park, Winnipeg
Key Characteristics & Appeal
This home is a classic one-and-a-half storey house built in 1948, featuring 1,060 sqft of living space and a renovated basement. It sits on a notably generous 6,535 sqft lot within the Kern Park neighborhood and includes a detached garage.
Its primary appeal lies in its land value and location. While the house itself is modest in size and age compared to others on its street, the property boasts a lot size that ranks in the top 8% within Kern Park and top 22% citywide. This presents a clear opportunity for buyers who value outdoor space, potential for expansion, or future redevelopment in a well-established area. The renovated basement adds functional living space.
This property would best suit a practical buyer—perhaps a first-time homeowner, an investor, or someone looking to downsize—who is more interested in the long-term asset of the land than in a large or modern house. It’s for someone who sees potential in a solid, older home on a spacious lot, rather than someone seeking a turnkey property that leads the market in size or assessed value.
Frequently Asked Questions
1. Why is the assessed value so much lower than recent sold prices?
The assessed value is for municipal tax purposes and often lags behind the current market. The sold price range from 2022 is significantly higher, indicating strong market demand for properties in this area, likely driven by the desirable lot size.
2. How does the lot size compare to nearby homes?
The lot is a key feature. It is larger than most in Winnipeg and significantly above the average for the Kern Park area, though it is smaller than the typical lot on Park Circle itself. This suggests a more private, spacious setting compared to many city properties.
3. What does it mean that the home ranks "below average" on its own street for several metrics?
Park Circle appears to consist of larger, potentially newer, and higher-value homes. This property is one of the more modest homes on the street, which can be an advantage for entry into a desirable block without the premium price of its largest neighbors.
4. Is the renovated basement a legal suite?
The listing states the basement is renovated but does not specify it as a legal rental suite. Buyers should verify its compliance with local codes and zoning if considering rental income.
5. Who would be the typical buyer for this home?
Given the data, likely buyers include those seeking a starter home with renovation potential, investors attracted by the lot size and neighborhood, or downsizers wanting a manageable house with a large yard in a mature community.