Property Overview: 229 Victoria Avenue E, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home in Kern Park is a property of distinct contrasts. Built in 1912, it offers a generous 1,342 sqft of living space, which ranks above average for both its immediate street and the Kern Park neighbourhood. This presents a notable opportunity: the home provides more interior room than many in the area, housed within a classic, century-old character structure.
Its primary appeal lies in its potential. The assessed value is notably below average across all comparisons, which often signals a property ripe for modernization or a value-conscious entry point into the market. The home features a detached garage and a basement that is noted as not being renovated, underscoring the fixer-upper nature of the property. The lot is compact at 2,700 sqft, typical for older central neighbourhoods, emphasizing that the value here is in the existing structure rather than the land.
This home would suit a specific type of buyer: a handy purchaser, renovator, or investor looking for a character home with "good bones" in an established neighbourhood. It’s less suited for those seeking a move-in-ready property or a large outdoor space. A thoughtful perspective is that while the home ranks low on metrics like year built and assessed value, it ranks high for living area—suggesting a solid foundation to work with. The low tax assessment could be a financial advantage during a gradual renovation.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property's current state. Given the older year of construction (1912) and the note that the basement is not renovated, the valuation likely reflects the need for updates and modernization compared to more recently built or renovated homes in the area.
2. What does "one & 3/4 storey" mean for the layout?
This style typically features a main floor and a second floor where the ceilings slope with the roofline, often creating cozy bedrooms or unique spaces in the top half-storey. It's a classic design for homes of this era.
3. Is the low land area a concern?
At 2,700 sqft, the lot is smaller than the neighbourhood average. This means smaller yard maintenance but also limited potential for expansions like large additions or pools. The focus of this property is the existing house.
4. How reliable are the sold price ranges shown?
The listed ranges are based on public data. For precise historical sold prices, you must request the exact figures via email from the site, as they are verified manually and not publicly displayed in full detail.
5. What might explain the jump from a ~$28k sale in 2022 to a $390k city-wide average assessment comparison?
The 2022 sale price likely reflects the property's condition at that time. The $390k figure is the city-wide average assessed value for comparison homes, not the assessment for this specific house. It highlights how far below the city average this particular home's assessment sits.