Property Overview
This 720 sqft, one-storey home on a 5,745 sqft lot presents a distinct value proposition in Winnipeg's Kirkfield neighbourhood. Built in 1955, its key characteristic is its notably modest scale and assessed value, which rank well below averages for its immediate street, the broader neighbourhood, and the city. The home features a detached garage and no basement.
Its primary appeal lies in its accessibility. With a recent 2023 sale in the $26.5k-$29.5k range and a current assessed value of $25.2k, it represents one of the most entry-level priced detached properties available. This isn't a move-in-ready showcase home; its appeal is for the value-conscious buyer or investor who sees potential in the land and the structure, with the understanding that updates and improvements will be part of the journey. It would suit a first-time buyer seeking a foothold in the market with minimal upfront capital, a hands-on owner looking for a manageable renovation project, or an investor considering a hold-and-rent strategy for a low-cost asset. The lot size, while below the Kirkfield average, is still generous by many city standards and offers room for outdoor space or future expansion.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and likely the condition and features relative to the broader market. It's aligned with being a more basic, no-frills property.
2. What does "below average" for Living Area mean in practical terms?
With 720 sqft of living space, this is a compact home. It's significantly smaller than most houses on its own street (where the average is ~1,105 sqft) and would typically accommodate one or two occupants comfortably, emphasizing efficient use of space.
3. Is this a good investment?
For the right buyer, yes. Its low entry cost minimizes financial risk and debt load. The potential for value increase would come from strategic renovations, the inherent value of the land, and the overall market rise, rather than from purchasing a premium-priced, turn-key property.
4. What should I budget beyond the purchase price?
Prospective buyers should immediately budget for a thorough inspection and plan for maintenance and updates consistent with a 71-year-old home. The very low purchase price means a greater proportion of your total investment will likely go into improvements and upkeep.
5. How reliable are the "sold price" ranges provided?
The ranges are based on public data. For precise historical sale figures, you must request the exact data via email, as the site manually verifies and provides this detail to ensure accuracy, free of solicitation.