Property Overview: 463 Kent Road, East Elmwood
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1955, presents a practical opportunity in Winnipeg's East Elmwood neighborhood. Its primary appeal lies in its generous 5,698 sqft lot, which is notably larger than most in the immediate area, offering valuable outdoor space and future potential. With 919 sqft of living area, the house itself is modest and typical for the street, but its assessed value of $260k positions it as a more accessible entry point compared to the Winnipeg city-wide average.
The property suits first-time buyers or downsizers looking for a manageable, single-level layout without a basement. Its strongest feature is the land itself—a lot size that ranks in the top 8% for East Elmwood—which could appeal to those prioritizing garden space, privacy, or long-term redevelopment possibilities. It’s a home for buyers who see value in the land and location, and who are comfortable with a dwelling that is functionally average in size and age for its community, but which offers a solid foundation in a stable neighborhood.
Section 2: Frequently Asked Questions
1. How does the value of this home compare to the area?
The home’s assessed value is around the average for both Kent Road and the broader East Elmwood neighborhood, but it sits below the average assessed value for the entire city. This suggests it is priced consistently within its local market.
2. What is the significance of the large lot size?
The lot is a standout feature, significantly larger than many in East Elmwood. This provides more yard space, greater distance from neighbors, and could be a key asset for future expansions, additions, or landscaping projects.
3. What does "no basement" mean for storage and utilities?
The home is built on a slab foundation, meaning there is no below-grade basement for storage, mechanical systems, or additional living space. All utilities and storage will be accommodated on the main floor, which is a factor for space planning.
4. Is a home from 1955 likely to need major updates?
While the building age is typical for the area, a home of this vintage may require attention to major systems like plumbing, electrical, or the roof. A thorough inspection is essential to understand the condition and any modernizing needs.
5. How does the last sale price in 2016 relate to the current assessed value?
The home sold for $222,000 in 2016. The current assessed value of $260k reflects the market appreciation and valuation changes over the intervening years. The assessed value is used for tax purposes, while the eventual sale price is determined by the current market.