Property Overview: 504 Country Club Boulevard
Key Characteristics & Appeal
This is a modest, one-and-a-half storey home built in 1948, situated on a standard-sized lot in Winnipeg's Kirkfield neighbourhood. With 1,015 square feet of living space and an unfinished basement, it presents as a classic post-war property that has not undergone extensive modernization. There is no garage or pool.
The primary appeal lies in its position as an entry-point property. Its assessed value is notably low compared to almost all homes on its street, in its area, and across the city, indicating it is one of the most affordable options available. This creates a unique opportunity for first-time buyers or investors seeking a foothold in the market with minimal upfront capital. The lot size is average citywide, offering typical outdoor space for the area.
This home would suit a buyer comfortable with a project, whether as a live-in renovation opportunity or a long-term hold investment. It is less suited for those seeking move-in readiness or modern amenities. A thoughtful perspective is that its low fixed costs (like property taxes, tied to assessed value) could provide significant monthly savings compared to a higher-valued home, freeing up cash for gradual improvements.
Frequently Asked Questions
1. Why is the assessed value so much lower than other homes?
The assessed value is based on factors like the home's age, size, condition, and lack of major renovations compared to peers. It reflects the property's current state as a more basic dwelling relative to updated or larger homes on the same street.
2. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped roof lines, often with cozier, dormer-style bedrooms. It's a common design for its era and may have unique character but less full-height square footage than a true two-storey.
3. Is the unfinished basement a drawback?
It depends on your goals. While it adds no finished living space, it provides ample storage, mechanical space, and future expansion potential. For an investor or budget-conscious buyer, it keeps the purchase price and taxes lower.
4. The sold price history shows a very low sale around 2016. Is that relevant today?
Past sales, especially from several years ago, indicate a long history as a lower-value property. However, market conditions have shifted significantly since then. It's essential to base current value on recent comparable sales and a professional appraisal.
5. Who would be the ideal buyer for this property?
It's best suited for a first-time homebuyer with renovation skills or a realistic budget for updates, or an investor looking for a rental property with a low entry cost and correspondingly low carrying costs. It is a practical choice over a luxurious one.