Property Overview: 403 Kilbride Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on Kilbride Avenue in the Jefferson neighbourhood is a compact, no-frills property built in 1948. With 660 sqft of living space and an unrenovated basement, it presents as a straightforward living option or a foundational investment. Its assessed value is notably low compared to the city-wide average, positioning it as one of the most accessible entry points into Winnipeg’s housing market.
The primary appeal lies in its affordability and lot size. While the house itself is smaller than most in the area, the 4,069 sqft lot is above average for the immediate street, offering valuable outdoor space and potential. The detached garage adds practical utility. This property would best suit a first-time buyer comfortable with a project, an investor looking for a rental with low entry costs, or someone seeking a minimalist lifestyle with lower property taxes and maintenance obligations. A less obvious perspective is its data profile: for its assessed value, it ranks higher locally than it does for size, suggesting the land and location on this specific street contribute more to its value than the structure itself.
Section 2: Frequently Asked Questions
1. Is this a "tiny home"?
While not marketed as such, at 660 sqft it is significantly smaller than the Winnipeg average (1,342 sqft) and functions as a compact, efficient living space, similar in spirit to a traditional small home.
2. What does "unrenovated basement" imply?
It means the basement is in original or functional condition but has not been modernized or finished as living space. Buyers should budget for potential updates and consider it usable for storage, utilities, or as a blank canvas for future development.
3. How can the assessed value be so much lower than the city average?
The assessed value reflects the property's specific characteristics—smaller size, age, and neighbourhood—within the municipal valuation system. It indicates a lower property tax burden, which is a key part of its affordability.
4. What is the potential here for the right buyer?
The potential is in the land and the fundamentals: a solid lot size for the street, a functional structure, and a very low cost of entry. The value would be realized through long-term holding, strategic minimal updates, or eventual redevelopment, rather than expecting immediate high-end finishes.
5. How does it compare to the nearby reference properties?
The listed reference homes on Kilbride and Burrin Avenues are larger in living area (over 1,000 sqft) and have higher assessed values, highlighting that 403 Kilbride is a more compact and affordable option within the same general area.