Property Summary: 18 Kingswood Avenue, Winnipeg
Key Characteristics & Appeal
This 1944-built home in Varennes presents a compelling value proposition centered on its lot and location. With 5,120 sqft of land, the property offers a generous, average-to-above-average yard size for both its street and neighborhood, providing excellent outdoor space potential. Its primary appeal lies in its financial positioning: with an assessed value of $324k, it sits above average for Kingswood Avenue and the wider Varennes area, yet remains notably below the Winnipeg city average. This suggests a well-regarded property within a more affordable micro-market.
The home itself, at 752 sqft, is compact and below average in size at every comparison level. This characteristic clearly defines its ideal buyer: someone seeking an entry point into a stable neighborhood, prioritizing land value and location over interior square footage. It would suit a first-time buyer, an investor, or someone looking to downsize without sacrificing outdoor space. The data indicates you are paying a premium for the specific address and lot within this community, not for a large living area. A thoughtful perspective is that this property represents a "land play" with a liveable house, offering the chance to build equity through future expansions or renovations on a solid parcel of land.
Frequently Asked Questions
1. Is the house too small?
At 752 sqft, the living area is below the average for the street, neighborhood, and city. It is a compact home best suited for individuals, couples, or those comfortable with efficient living spaces.
2. Why is the assessed value above average if the house is smaller?
The assessed value reflects more than just living area. Its strong value ranking on the street and in Varennes is likely driven by its desirable lot size, the specific location on Kingswood Avenue, and the overall property condition as determined by the assessor.
3. What does the "land play" perspective mean?
It highlights that a significant portion of the property's value is in its 5,120 sqft lot. For the right buyer, this offers future potential—whether for gardening, adding a garage, or even a home addition—that smaller lots in the city may not allow.
4. How does the age of the home (1944) factor in?
The build year is typical for the street and neighborhood. Buyers should anticipate the maintenance and potential update needs common to houses of this era, but also benefit from the established character and mature landscaping of the area.
5. Is this a good investment for the area?
The data shows it holds a strong value position within its immediate surroundings (top 24-27% on its street and in Varennes). This indicates it is a comparatively desirable property in that micro-market, which can be a positive indicator for stability.