507 Leola Street

Property Overview: 507 Leola Street, Kern Park, Winnipeg

Key Characteristics & Appeal

This 988 sqft, one-storey home on a generous 6,414 sqft lot presents a practical and value-oriented opportunity in Winnipeg's Kern Park neighborhood. Built in 1956, its key appeal lies in its recently renovated basement and a detached garage. The standout feature is the land size: the lot is notably larger than most in the immediate area, ranking in the top 5% on its street and top 8% in Kern Park. This offers valuable outdoor space and potential not found in many comparable properties.

The home suits first-time buyers or downsizers looking for a manageable, single-level layout in an established community. Its assessed value is above average for Kern Park, suggesting it is a well-regarded property within the neighborhood. The appeal is grounded in space and practicality—the large lot provides room for gardening, recreation, or future expansion, while the renovated basement adds immediate functional living area. It’s a property for buyers who prioritize land and solid fundamentals over a large interior footprint.

Frequently Asked Questions

1. How does the living space compare to other homes?
At 988 sqft, the living area is very close to the average for both Leola Street and the wider Kern Park area. City-wide, it is considered more compact, making it a efficiently sized home.

2. What does the "above average" assessed value mean for this property?
The assessed value is higher than the typical home in Kern Park. This often reflects factors like the renovated basement, the desirable lot size, and the property's overall condition relative to others in the area.

3. Is the large lot a common feature here?
No, it is a distinguishing advantage. The lot is significantly larger than the average for both the street and the neighborhood, offering more privacy and usable outdoor space than most comparable properties.

4. What can the recent sale history tell me?
The home sold in September 2023. For the exact sale price, you can request the information via email from the listing source, as public records often show a range.

5. What type of neighborhood is Kern Park?
Kern Park is a mature, established neighborhood. The property metrics show homes here are typically from the mid-20th century, with lot and living areas that are modest but comfortable, appealing to those seeking a stable, residential setting.