Property Overview
This 944 sqft, one-storey home at 1012 Day Street in Winnipeg's Kildare-Redonda neighbourhood presents a practical and straightforward opportunity. Built in 1955, it sits on a notably larger-than-average lot for the immediate street (over 5,000 sqft), offering valuable outdoor space. The home features a renovated basement, adding functional living area. Its assessed value is modest and sits below the area average, suggesting a potentially accessible entry point into the market. The appeal here is grounded in value, space, and simplicity. It suits first-time buyers seeking a manageable footprint with room to grow outdoors, downsizers looking for a single-level layout without a premium price tag, or investors interested in a property with a strong land-to-building ratio in an established area. A less obvious perspective is that a home ranking as "around average" on its own street but "below average" for the wider neighbourhood can represent a smart compromise—offering the stability of a typical area home without paying for above-average neighbourhood finishes or size.
Frequently Asked Questions
1. What is the true size and potential of the property?
The living area is 944 sqft, which is typical for homes on Day Street. The significant feature is the land: at 5,197 sqft, the lot is larger than most on the block, offering more private outdoor space or future expansion potential than many comparable properties.
2. How does the assessed value relate to the likely selling price?
The assessed value is $29,500, which is a municipal valuation for tax purposes. It is below the Kildare-Redonda average. Historical sold price data from 2019 shows a range of $21.5k-$24.5k, but market conditions have changed. A current market evaluation is essential, as the sale price will be influenced by today's demand, the renovated basement, and the lot size.
3. Who would this home be most suitable for?
It's well-suited for first-time buyers due to its manageable size and probable price point, or for downsizers seeking a single-level layout. The large lot could also appeal to buyers who prioritize garden space or future projects over a large interior.
4. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify the scope. Buyers should inquire about the nature of the renovation, whether it includes legal egress, a proper ceiling height, moisture control, and what the finished space is used for (e.g., recreation room, additional bedroom).
5. Are there any concerns with the age of the home (built in 1955)?
As with any home of this era, due diligence is key. While the basement has been renovated, it's important to have systems like the roof, plumbing, electrical, and foundation inspected to understand their condition and any potential upcoming maintenance costs.