12 Litz Place

Property Overview: 12 Litz Place, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This one-storey home on a quiet street in Kildonan Drive presents a practical and value-oriented opportunity. Its key characteristic is a renovated basement, adding functional living space to the 1,215 sqft footprint. Built in 1971, it is notably newer than many homes in the immediate area and the broader Kildonan Drive neighborhood, which can be an advantage for systems and upkeep. The detached garage and a 5,521 sqft lot offer standard outdoor and parking space.

The appeal lies in its strong assessed value relative to its surroundings—it ranks above average for the street and neighborhood—suggesting it is viewed favorably in terms of property assessment compared to peers. This, combined with the modernized basement, indicates a home that has seen investment. However, the living area is modest for the street, meaning the layout and use of space will be important considerations.

This property would suit a first-time buyer or a downsizer looking for a manageable, single-level layout in an established neighborhood. It’s also a fit for a value-conscious buyer who appreciates a home that stands out positively in its local tax assessment, as this can sometimes correlate with maintenance and updates. The recent basement renovation makes it move-in ready for someone needing immediate extra space for a family room, office, or guest suite.

Frequently Asked Questions

1. How does the property’s size compare to nearby homes?
The living area is slightly below average for Litz Place itself but is around the city-wide average. The lot size is also somewhat smaller than many in the Kildonan Drive area, so outdoor space is adequate but not expansive.

2. The assessed value seems high for the street. Is that good?
The assessed value ranks well above average for both the street and the neighborhood. This typically reflects factors like the renovated basement, the home’s condition, and its newer build year relative to neighbors. It’s a positive indicator of the property’s standing, though it’s one component of its overall market value.

3. What does the “newer” build year (1971) mean for me?
While still over 50 years old, a 1971 build is newer than many homes in this part of Winnipeg. This can sometimes mean updated construction standards, potentially fewer major age-related issues in the near term, and possibly a layout that feels more modern than older wartime or mid-century designs.

4. Is the sold price history from 2020 relevant today?
The last known sale was in early 2020. While it provides a historical anchor point, market conditions have changed significantly since then. It’s most useful for understanding the property’s price trajectory rather than determining its current value.

5. What are the trade-offs with a one-storey home with a renovated basement?
The main floor offers accessible, single-level living. The renovated basement adds valuable finished space, turning a potential drawback (smaller main floor) into a functional asset. However, it’s important to verify the quality and permits for the renovation and to consider that basement spaces often differ in natural light and ceiling height from above-grade rooms.