Property Overview
475 Kent Road is a compact, one-storey home in Winnipeg's East Elmwood neighbourhood. Built in 1955, its primary appeal lies in its generous 5,519 sqft lot, which is notably larger than many in the immediate area. The home itself, at 796 sqft of living space, is modest and sits below the neighbourhood average in size. This creates a specific dynamic: you're investing more in the land than the existing structure. It last sold in March 2023 for $210,000.
This property would suit a first-time buyer or an investor looking for an entry point into the market with clear potential. It's a candidate for a live-in renovation, where the value can be built over time, or for a buyer who prioritizes private outdoor space over a large interior. Its assessed value is relatively low, which could be attractive for property tax purposes, but also signals the home likely requires modernization.
Frequently Asked Questions
1. Is this a small house?
Yes. At 796 sqft, the living space is below average for East Elmwood, the street, and the city. It's a compact, efficient layout typical of its era.
2. What's the biggest advantage of this property?
The lot size. At over 5,500 sqft, the yard is significantly larger than many neighbouring properties. This offers ample room for gardening, expansion, or adding outdoor amenities.
3. The assessed value seems very low. Why?
The assessed value of $22,500 reflects a municipal valuation for tax purposes, not market value. It is based on older data and formulas. The 2023 sale price of $210,000 is the relevant market indicator.
4. What type of work might it need?
As a 71-year-old home with a below-average assessed value, buyers should budget for updates. While specifics require a viewing, common considerations for homes of this age include roofing, windows, insulation, and interior systems.
5. How does it compare to the house next door at 422 Kent?
The reference listing at 422 Kent (sold earlier) is a useful benchmark. It is a slightly larger home (919 sqft) with a much higher assessed value ($300k), suggesting it was in a more updated or expanded condition, which is reflected in its different sale price.