Property Overview & Key Characteristics
This home at 1025 Kelsey Avenue in Winnipeg's Maybank neighbourhood presents a practical, no-frills opportunity. Built in 1938, its 924 sqft living space is modest and below average for the immediate street, but it sits on a standard city lot of just under 5,000 sqft. The assessed value is consistently around average for its local area, suggesting it's priced in line with neighbourhood expectations. Its appeal lies in its straightforwardness: it's a smaller, character home on a decent lot without the premium of a recent build or extensive renovations. This would suit a first-time buyer comfortable with a home of its era, an investor looking for a rental property with land value, or a downsizer seeking a manageable footprint without leaving the city. A thoughtful perspective is that its "below average" size for the street could mean lower utility costs and less upkeep, while its average valuation indicates stability without inflated speculation.
Frequently Asked Questions
1. What are the major considerations for a home built in 1938?
Prospective buyers should budget for and prioritize a thorough inspection. While the structure has stood for decades, key systems like wiring, plumbing, and insulation may need updating to modern standards. The charm of an older home comes with the responsibility of proactive maintenance.
2. How does the below-average living area impact value?
The smaller square footage is reflected in its average assessed value for the area. This means you're likely paying for the land and location more than the home's size. It can represent an efficient entry point into the neighbourhood, with potential to add value through a thoughtful addition or renovation in the future.
3. What can the 2019 sale price range tell me?
The historical sale price range (CA$150k–200k) provides a benchmark. Comparing it to the current assessed value (~$31.60k for tax purposes, not market value) and any current listing price helps gauge market trends and the seller's potential expectations. Note that assessed value for taxes is not the same as market value.
4. Who are the typical buyers in Maybank?
Maybank, with a mix of older and mid-century homes, often attracts practical buyers. This includes young families seeking affordability in established areas, long-term residents, and investors. The neighbourhood offers a quiet, residential feel without being remote.
5. Why is the lot size important for this property?
At 4,725 sqft, the lot is a standard city size. For this particular home, the lot represents a significant portion of the property's value and future potential. It offers good outdoor space for a home of this size and provides options for gardening, expansion, or simply more privacy than newer, denser developments.