Property Overview
This is a compact, one-storey home built in 1909, located on a standard city lot in Kern Park. Its key defining features are its modest 606 sqft living area and a notably low municipal assessed value of $19,300. The home has a detached garage and an unrenovated basement. Recent sale data indicates it last sold in late 2023 for a price well below typical city averages.
Key Characteristics & Appeal
The primary appeal of this property is its position as an entry point into the Winnipeg housing market. Its extremely low assessed value and recent sale price suggest it is one of the most affordable detached homes available. This isn't a move-in-ready property; its living space is significantly smaller than area averages and it requires updates. Its appeal lies almost entirely in its land value and potential, rather than its current condition.
It would suit a very specific type of buyer: an investor looking for a hold-and-rent property with minimal upfront capital, or a hands-on buyer with renovation skills seeking a footprint to rebuild or extensively remodel. It is not well-suited for those needing immediate, modern living space or who are not prepared for a project. A less obvious perspective is that such a low-value asset in a stable neighborhood can sometimes represent a calculated, low-risk entry for building equity through sweat equity, far from the competitive frenzy of turn-key homes.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's very small size (606 sqft), its age, and likely its current condition. It is valued significantly below peers on its own street, in Kern Park, and citywide.
2. What does "below average — Top 99%" mean for the living area?
This statistical ranking means the home's living area is smaller than approximately 99% of comparable properties citywide. Specifically, it ranks 192,671st out of 194,458 homes, with the average being 1,342 sqft.
3. Is this a teardown or a renovation project?
Given the home's age, small size, and unrenovated state, it is likely a candidate for either a significant gut renovation or a complete rebuild. The value is primarily in the land.
4. When was it last sold, and for how much?
The home was sold in September 2023. The exact price is not publicly listed, but data indicates it sold in a range around $12,500 to $15,500.
5. How can I find out the exact historical sale price?
The exact sold price is available by request. You can provide your email via the "Get exact sold price history" button on the listing page, and the accurate figure will be sent to you manually.