Property Overview
112 Kingston Row is a compact, one-storey home in Winnipeg's Elm Park neighbourhood. Built in 1942, its key appeal lies in its position as an accessible entry point into a well-established area. The home features an attached garage and a basement, though the basement is noted as not being renovated.
Its most defining characteristic is its scale. With 846 sqft of living space and a 4,729 sqft lot, it is notably smaller than most homes on its street and in Elm Park, placing it in the bottom tier for size in those comparisons. This is reflected in its assessed value, which is significantly below local averages. A thoughtful perspective is that this presents a lower-maintenance footprint, both indoors and outdoors, which can be a hidden benefit for certain lifestyles. The home suits first-time buyers, downsizers, or investors seeking a lower-cost holding in a mature neighbourhood, with the understanding that it may require updates.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is primarily driven by the home's significantly smaller living area and lot size compared to neighbouring properties, placing it in a different category for valuation.
2. What does "basement, not renovated" imply?
This typically indicates the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates and include an inspection to assess its current state and any moisture or foundation concerns common to homes of this era.
3. Is the small lot size a major drawback?
While smaller than most on the street, the lot is near the city-wide average. It offers lower yard maintenance, which can be an advantage. However, it may limit expansion possibilities or private outdoor space relative to immediate neighbours.
4. Who would this property not be suitable for?
It may not suit buyers needing multiple bedrooms or spacious living areas, those looking for a turn-key modern home, or anyone whose priority is a property that keeps pace with the larger scale of homes directly on Kingston Row.
5. The home sold for $22,900 in 2020. Is the current asking price fair?
The 2020 sale price is a historical data point, but market conditions, interest rates, and the property's condition have likely changed since. Value should be based on a current comparative market analysis and professional appraisal, not on a sale from four years ago.