Property Overview: 515 Regent Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home in Winnipeg's Kern Park neighbourhood, built in 1949. Its key characteristic is its modest scale, with a living area of 692 sqft that is notably smaller than most comparable homes in the area, city, and on its own street. This is balanced by a renovated basement and an average-sized lot of just over 4,000 sqft, which includes a detached garage. The home’s assessed value is significantly below average, reflecting its size and positioning in the market.
The appeal lies in its potential as an affordable entry point into homeownership or as a strategic investment property. The renovated basement adds functional living space, and the lot size offers valuable outdoor potential not always available with smaller homes. It would suit first-time buyers comfortable with a cozy footprint, practical renovators looking for a solid foundation to add value, or investors seeking a lower-priced rental property in a central Winnipeg neighbourhood. A less obvious perspective is that its smaller size can mean lower utility costs and less maintenance, appealing to those looking to minimize their ongoing housing expenses.
Section 2: Frequently Asked Questions
1. Is the house unusually small?
Yes. At 692 sqft, the living area is well below the average for Kern Park (~1,047 sqft) and for homes on Regent Avenue E itself (~974 sqft). This is the home's most defining feature.
2. What does the "renovated basement" include?
The listing notes the basement is renovated but does not specify the finish or rooms. This is a key detail to clarify with the seller or agent, as it significantly adds to the home's usable space.
3. How does the assessed value relate to the likely selling price?
The home's assessed value is $22,800, but it last sold in late 2023 for an estimated $22.5k-$25.5k. Assessed value is for municipal tax purposes; the market price is determined by current buyer demand, condition, and comparable sales.
4. What are the implications of a detached garage?
A detached garage provides secure storage or workshop space but means going outdoors to access your vehicle. For this home, it also suggests the lot has enough space to accommodate a separate structure, which is a plus.
5. Who might this property not suit?
It may not suit buyers who need multiple bedrooms, dedicated home office space, or simply prefer more spacious interior living areas without undertaking a major expansion. Families or those who frequently entertain larger groups indoors might find the layout limiting.