Property Overview
This single-storey home at 420 Victoria Avenue E in Winnipeg's Kern Park neighborhood presents a practical opportunity with notable strengths. Its key appeal lies in a combination of a generous, above-average lot size and a recently renovated basement, offering a solid foundation for comfortable living or future projects.
Key Characteristics & Ideal Buyer
The 1,120 sqft house, built in 1956, sits on a 6,600 sqft lot—a standout feature that ranks in the top 5% of the Kern Park area. This provides significant outdoor space, a rarity in many city neighborhoods. The home includes a detached garage and a renovated basement, adding functional living and storage space. Its assessed value is above average for Kern Park, suggesting it is a well-regarded property within the immediate area.
The property’s appeal is grounded in its space and location. The large lot is a major asset for anyone valuing gardening, privacy, or room for additions like a deck or shed. The renovated basement adds immediate, move-in-ready utility. It suits first-time buyers or downsizers looking for a manageable single-level layout in an established neighborhood, as well as value-conscious buyers who see potential in the existing structure and the blank canvas of a sizable yard. A thoughtful perspective is that while the living area is modest compared to some peers, the exceptional lot size offers a type of "land bank" value that is increasingly scarce, providing long-term equity in the form of land rather than just square footage.
Frequently Asked Questions
1. How does the lot size compare to typical Winnipeg homes?
The 6,600 sqft lot is significantly larger than the Winnipeg city average of approximately 6,570 sqft and is notably larger than the Kern Park area average of 4,277 sqft, placing it in an elite category for the neighborhood.
2. What is the significance of the "above average" assessed value for Kern Park?
This indicates the property’s municipal assessment is higher than most homes in Kern Park, which can reflect desirable attributes like lot size, condition, or location within the area. It’s a useful benchmark for understanding its standing relative to direct neighbors.
3. Has the home been updated since it was built in 1956?
Yes, the basement has been renovated. Prospective buyers should inquire about the scope and permits for this renovation, as well as the condition and updates to major systems (roof, wiring, plumbing) in the main house.
4. What does the sold price history from 2016 indicate?
The home sold in June 2016 for an estimated range of $22.5k to $25.5k. This historical data is a point of reference, but the current market value will be determined by recent comparable sales, condition, and market dynamics.
5. What are the practical implications of a detached garage?
A detached garage offers flexibility for use as a workshop or storage without impacting the home's living space. However, it requires going outdoors to access, which is a consideration during Winnipeg winters.