Property Overview: 102 Kingston Row, Elm Park, Winnipeg
Key Characteristics & Buyer Appeal
This one-storey home, built in 1947, is a compact and efficiently designed property in the established Elm Park neighbourhood. Its primary appeal lies in being an accessible entry point into a mature, tree-lined area, offering a balance of a central location and a manageable scale. With 784 square feet of living space and a recently renovated basement, it provides functional living without excess. The lot, at just under 3,800 square feet, is smaller than most in the immediate area but translates to lower maintenance—a significant consideration for downsizers or those seeking a simplified lifestyle.
The home’s assessed value is notably modest, positioning it as one of the more affordable options on its street and in the wider city. This makes it particularly suited for first-time homebuyers, investors looking for a rental property, or retirees seeking to rightsize their living arrangements without leaving a desirable community. Its above-average age for the street suggests it may have retained more original character than neighbouring homes. The true value proposition is location and lot ownership versus renting, rather than square footage. It’s a property for a pragmatic buyer who prioritizes getting into the neighbourhood over finding a move-in-ready, spacious family home.
Frequently Asked Questions
1. Is the small living area a major drawback?
While below average in size, the renovated basement adds functional space. The layout efficiency and lower utility costs can be advantages for individuals, couples, or small families.
2. Why is the assessed value so much lower than nearby homes?
The assessment reflects the home’s smaller size and lot dimensions relative to others on Kingston Row. It indicates a potentially lower property tax burden and a clear value opportunity within the area.
3. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify details. A buyer should verify the scope of work, permits, and the basement’s intended use (e.g., living space, laundry, storage) during a viewing or inspection.
4. Is the small yard a problem?
The land area is significantly smaller than area averages. This limits expansive gardening or recreation space but offers very low maintenance, which many buyers find appealing.
5. How does the 2016 sale price relate to today’s value?
The home sold for $27,500 in 2016. This historical price highlights significant appreciation potential but should not be used as a direct indicator of current market value, which is influenced by broader market conditions since that time.