Property Overview: 808 Leola Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home in Winnipeg's Kern Park neighborhood, built in 1910. With 628 square feet of living space, it is notably smaller than most homes in the area and across the city. Its key features include a renovated basement and a detached garage. The lot size is fairly standard for the local street at 3,660 sqft.
The primary appeal lies in its accessibility and potential as an entry point into the housing market. With a historically low assessed value and corresponding sold prices, it represents one of the most affordable single-family home options available. It suits a very specific buyer: those seeking minimal square footage and lower property taxes, such as a first-time buyer on a tight budget, an investor looking for a straightforward rental property, or someone seeking a modest, low-maintenance footprint. Its renovated basement adds functional space, which is a crucial upgrade given the home's smaller main floor.
A less obvious perspective is that its age and size position it as a potential candidate for a careful expansion or modernization (subject to permits and investment), offering a blank canvas for the right buyer. Additionally, its consistently below-average metrics mean carrying costs like taxes and utilities are likely proportionally lower, which is a practical long-term advantage.
Frequently Asked Questions
1. Is this a tiny home?
While not marketed as such, its living area of 628 sqft is significantly below the city average, placing it in a similar size category. It offers a traditional single-family home layout on its own lot, but with minimal interior space.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, older age, and the lower average values within its specific neighborhood and street compared to the broader Winnipeg market.
3. What does "renovated basement" mean for a home this size?
A finished basement effectively doubles the usable living area, which is essential in a home with a smaller main floor. It's a critical feature that adds functionality for living, storage, or rental potential.
4. Who would this property not suit?
It would not suit buyers needing multiple bedrooms, ample storage, or spacious common areas. Families or individuals who work from home without a dedicated office space may also find it too confined.
5. How reliable are the sold price ranges shown?
The ranges are based on publicly available data. For precise historical sale figures, you must request the exact sold price history via email from the listing service, as they manually verify and provide this detail.