Property Overview
This 1913 one-and-a-half storey home in Kern Park presents a compact, character-filled living space of 900 sqft on a 3,300 sqft lot. Its key appeal lies in its position as an accessible entry point into the Winnipeg market, with an assessed value of $240k that sits below average for the city, street, and neighborhood. The home has an unfinished basement and no garage. Its living area is modest, ranking smaller than most comparable homes, which suggests it is best suited for a first-time buyer, downsizer, or an investor looking for a straightforward rental property. The historical sold price data indicates a very low sale in late 2019, highlighting its potential as a value-purchase or fixer-upper opportunity for those willing to invest sweat equity. It’s not a home for those seeking modern finishes or ample space, but rather for a pragmatic buyer who values location and fundamentals over size and amenities.
Key Considerations & FAQs
1. What is the true condition of the property?
The listing notes an unfinished basement and a building age of over 110 years. Prospective buyers should budget for potential updates to major aging systems like plumbing, electrical, or the roof, and consider the cost of finishing the basement to add liveable space.
2. Why was the 2019 sale price so low?
The sold price range of $16.5k–$19.5k in late 2019 is unusually low for a standalone house. This typically indicates a distressed sale, a property in very poor condition at the time, or a non-arms-length transaction. It’s crucial to investigate this history.
3. What are the implications of having no garage?
Without a garage, street parking will be the norm. Buyers should observe parking availability on the street at different times and consider the practicalities of vehicle maintenance during Winnipeg winters.
4. How does the below-average lot size affect the property?
The 3,300 sqft lot is smaller than most in the area. This limits expansive outdoor additions like a large deck or shed, but also means less yard maintenance—a potential positive for some.
5. Is the assessed value a reliable indicator of market value?
While the $240k assessment is a useful benchmark, market value is determined by current sale prices. Given the home’s smaller size and age, its market value may appeal to buyers specifically looking for a lower-priced entry into the neighborhood, but it may also appraise below competing, more updated homes.