525 Yale Avenue E

Property Summary: 525 Yale Avenue E, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home in Kern Park, built in 1960. With 736 sqft of living space, it is notably smaller than most area homes, positioning it as an affordable entry point into the neighbourhood. Its key features include a renovated basement and a detached garage. The appeal lies in its manageability and value: the assessed value is around average for the area, suggesting a relatively lower tax burden for a home in this location. The lot size is a solid 4,500 sqft, which is above average for Kern Park, offering good outdoor space relative to the home's footprint.

This property would suit first-time buyers, downsizers, or investors seeking a low-maintenance, single-level home with renovation potential. Its smaller size makes it efficient to heat and maintain, while the larger-than-average lot provides room for gardening, expansion, or future development. It’s a practical choice for someone prioritizing location and land over square footage, in a neighbourhood where newer homes are uncommon.

Frequently Asked Questions

1. How does the home's size impact its value?
While the living area is below average, the assessed value is on par with the neighbourhood. This suggests the value is supported by the desirable lot size, the renovated basement, and the overall location, rather than pure square footage.

2. What does the sold price history indicate?
The home sold in June 2022 for an estimated $29.5k to $32.5k, closely aligning with its current $30.10k assessed value. This indicates a stable, realistic valuation in the current market.

3. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.

4. How does the 1960 build year compare to the area?
Built in 1960, this home is significantly newer than many in Kern Park, where comparable homes average a build year of 1947. This could mean fewer issues associated with very old infrastructure.

5. What are the implications of the detached garage?
A detached garage offers flexibility and can be ideal for a workshop or extra storage. However, it may be less convenient during Winnipeg winters compared to an attached garage.