114 Kingston Row

Property Overview: 114 Kingston Row, Elm Park, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home in the established Elm Park neighborhood offers a practical and straightforward opportunity. Its key characteristic is a renovated basement, adding valuable finished living space to the 1,384 sqft footprint. The home sits on a modest, manageable lot with a detached garage.

The primary appeal lies in its position within a desirable, mature neighborhood, combined with a notably low property tax assessment relative to the area. This presents a potential value proposition for the right buyer. The home is newer than many on its street (built in 1947), suggesting possible updates over time.

This property would best suit a pragmatic buyer—perhaps a first-time homeowner, an investor, or a downsizer—who prioritizes location and low carrying costs over sheer size or a modern layout. It’s for someone who sees potential in a home that is comfortably livable now but may benefit from personalization over time. A thoughtful perspective is that the smaller lot size, while less expansive than some neighbors, translates to lower maintenance, freeing up time and resources.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The property’s assessed value is significantly below averages for both the street and Elm Park. This typically results in lower property taxes, which is a financial advantage. The reason for the assessment is not provided here, but it is a key point to investigate.

2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope, finishes, or if it includes a legal secondary suite. Determining the quality and layout of this space is essential.

3. Is the house smaller than others in the area?
Yes. The living area is above average for Elm Park but below average for Kingston Row itself. This indicates the home is a comfortable size for the neighborhood but is among the more compact options on its specific street.

4. How does the 2017 sale price relate to the current asking price?
The home sold for $26,500 in late 2017. Comparing this to the current list price would show market appreciation, but the more relevant comparison is the home’s assessed value of $28,500, which is used for calculating property taxes.

5. What is the condition of the main and upper floors?
The listing highlights the basement renovation but is silent on the condition of the primary living spaces. As a home built in 1947, understanding the state of major systems (roof, wiring, plumbing) and main-floor aesthetics is a crucial next step.