Property Overview
This 720 sqft, one-storey home on a 5,745 sqft lot presents a specific and practical opportunity in Winnipeg's Kirkfield neighbourhood. Built in 1957, its key characteristic is its compact and efficient footprint. The appeal lies in its notably low property taxes, as indicated by its assessed value of $28,800, which sits well below area averages. The home features a renovated basement and a detached garage. It would suit first-time buyers seeking an affordable entry into the market, downsizers looking to minimize living space and tax burden, or investors searching for a straightforward rental property with a lower cost basis. A thoughtful perspective is that a smaller, well-maintained home like this can offer greater financial flexibility and a simpler lifestyle, allowing resources to be directed toward travel, hobbies, or savings rather than property upkeep and taxes.
Frequently Asked Questions
1. Is this home unusually small?
Yes. At 720 sqft of living area, it is significantly smaller than most homes on its street, in the Kirkfield area, and across Winnipeg. This is its defining characteristic and the primary reason for its lower price and assessment value.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, ceiling height, proper permits, and whether it includes a separate entrance or rental suite potential.
3. Why is the assessed value so much lower than the city-wide average?
The assessed value is primarily a function of the home's small size and modest characteristics compared to the broader market. It consistently ranks in the bottom tiers for value relative to comparable properties on its street, in the neighbourhood, and city-wide.
4. How stable has the home's value been?
Based on available sold price ranges, the home sold for between $22.5k-$28.5k in 2017 and again for between $25.5k-$28.5k in 2020, suggesting its market value has remained relatively flat in that period, consistent with its niche profile.
5. Who might this property not be suitable for?
It may not suit buyers who need multiple bedrooms, dedicated home office space, or who prioritize frequent entertaining indoors. The compact size requires efficient use of space and may not accommodate growing families or those with substantial belongings.