5 Park Circle

Property Overview: 5 Park Circle, Kern Park, Winnipeg

Key Characteristics & Appeal

This one-storey home in the established Kern Park neighbourhood presents a unique value proposition. Built in 2009, it is a notably modern property compared to most homes on its street and within the wider city. Its key features include 1,819 sqft of living space, a renovated basement, and an attached garage, all situated on a 6,536 sqft lot.

The primary appeal lies in its context. While the home's living area and assessed value are modest relative to the very large, high-value estates typical of Park Circle, this translates to a more accessible entry point into an exclusive enclave. Within the broader Kern Park area and city-wide, however, it ranks as an elite or above-average property in terms of value, modernity, and lot size. This creates an interesting dynamic: it offers the prestige and location of a top-tier street without the proportional price tag of its largest neighbours.

This property would ideally suit a buyer looking for modern construction (avoiding the maintenance of a century-old home) within a mature, prestigious neighbourhood. It’s a practical choice for those who value location and a contemporary layout over having the absolute largest home on the block. The renovated basement adds functional living space, making it suitable for families or those who work from home.

Frequently Asked Questions

1. Why is the assessed value so much lower than the average for Park Circle?
The homes on Park Circle vary significantly in size and grandeur. This property, while modern and well-appointed, is more modest in scale compared to the multi-million dollar estates that pull the street's average value up. Its assessment reflects its specific attributes rather than the street's highest benchmarks.

2. How does the lot size compare to typical city lots?
At over 6,500 sqft, the lot is above average for Winnipeg. However, on Park Circle where many properties are on expansive grounds, it is considered smaller. This means less yard maintenance than the street's largest properties, but still provides generous private outdoor space by general city standards.

3. What does the sold price history indicate?
The available data shows a sale in late 2021 in the $47.5k-$50.5k range. This historical figure is useful for trend analysis, but it's essential to request the exact sold price and consult a real estate professional for a current market valuation, as prices have likely shifted since.

4. Is the "Elite" ranking in Kern Park misleading?
Not necessarily. The ranking is based on its assessed value relative to other homes in the Kern Park area. It indicates this is one of the highest-valued properties in the entire neighbourhood, underscoring its premium position when considered beyond just its immediate street.

5. Who would benefit most from the home's modern year of build (2009)?
Buyers seeking energy efficiency, contemporary electrical and plumbing systems, and modern building materials will benefit. It likely requires fewer immediate updates or major system overhauls than a character home, appealing to those looking for move-in readiness and lower near-term maintenance costs.