Property Overview
This one-storey home at 431 Kent Road in East Elmwood is a practical, no-frills property that offers solid value in a well-established neighbourhood. Built in 1955, it features 1,244 sqft of living space and sits on a notably generous 5,330 sqft lot, which is larger than most in the immediate area. The home includes a detached garage. Its appeal lies in its straightforward layout, the potential of its sizable yard, and its position as an affordable entry point into the Winnipeg market. It last sold in September 2021 for $170,000.
Key Characteristics & Ideal Buyer
The home’s key characteristic is its balance of adequate indoor space with above-average outdoor space for the neighbourhood. While the living area is typical for Kent Road and East Elmwood, the lot size stands out, offering room for gardening, play, or expansion. The assessed value is significantly below the citywide average, indicating a lower property tax burden relative to many Winnipeg homes.
Its appeal is grounded in affordability and lot potential. It suits first-time buyers or practical investors looking for a manageable footprint without a hefty price tag. It would also appeal to those who value private outdoor space over a recently updated interior, seeing the yard as a primary asset for relaxation or future projects. A less obvious perspective is that this type of property often represents a "blank canvas" in a mature neighbourhood—it provides the stability of established community infrastructure while leaving room for the next owner to add their own value over time.
Frequently Asked Questions
1. How does the home’s value compare to the area?
The home’s assessed value is around average for both Kent Road and the broader East Elmwood neighbourhood, but it ranks in the top 87% citywide, meaning its assessed value is significantly lower than most properties in Winnipeg, which can translate to lower property taxes.
2. What is the significance of the lot size?
At 5,330 sqft, the lot is larger than approximately 86% of lots in East Elmwood. This is a key feature, offering more privacy and usable outdoor space than is common for the area, which is often a priority for families or hobbyists.
3. What should I consider about a home built in 1955?
As a home from the mid-1950s, prospective buyers should budget for potential updates to major systems like plumbing, electrical, and insulation. A thorough inspection is essential to understand the condition of the roof, foundation, and overall structure.
4. How does the living space compare to nearby homes?
With 1,244 sqft, the living area is very close to the average for both the street and the neighbourhood. It provides a typical amount of space for the area, neither notably large nor small, suited for a small family or couple.
5. What can the 2021 sale price tell me?
The sale price of $170,000 from September 2021 provides a recent market benchmark. However, current market conditions, any changes made to the property since then, and broader economic factors will determine its present value. It’s a useful data point for understanding recent sale activity on the street.