Property Overview: 522 Kylemore Avenue, Lord Roberts, Winnipeg
Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous lot and established location. Built in 1909, it is a character property with a living area of 916 sqft, which is typical for the immediate street but smaller than the Winnipeg average. Its primary standout feature is the 3,794 sqft lot, which is notably larger than most in the Lord Roberts neighbourhood, offering valuable outdoor space and potential. The assessed value is significantly below averages at all comparison levels, indicating a lower property tax burden and an accessible entry point into the market.
The appeal lies in a balance of affordability, lot size, and location. It suits practical first-time buyers or investors looking for a foothold in a central neighbourhood without a premium price tag. It would also appeal to those who value a larger yard over a larger house and are prepared for the maintenance or update needs common to a century-old home. A less obvious perspective is that its below-average metrics across the city might represent a chance to acquire land in a established area, where the value is more in the location and lot than in the current structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value for tax purposes does not equate directly to market value. This assessment reflects the property's specific characteristics—like its age and smaller living space—within its neighbourhood and the broader city, resulting in a lower tax bill.
2. What does the lot size ranking mean for me?
Ranking in the top 30% for lot size on the street and in Lord Roberts means you're getting more land than most nearby properties. This allows for more privacy, gardening space, or future expansion potential compared to tightly packed lots.
3. As a 1909 home, what should I be prepared for?
While offering charm, a home of this age will likely require diligent maintenance and updates to systems like wiring, plumbing, and insulation. A thorough inspection is essential to understand the condition and any needed investments.
4. The sold price history shows fluctuation. How should I interpret this?
The varying sold prices over recent years reflect different market conditions and the specific state of the property at each sale. It underscores the importance of a current market evaluation rather than relying on past data alone.
5. Who are the typical buyers in this area?
Lord Roberts attracts a mix of first-time homeowners, long-term residents, and investors due to its central location. This property, with its larger lot and smaller house, particularly suits buyers prioritizing outdoor space and location over a modern, move-in-ready interior.