Property Overview: 505 Kilbride Avenue, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Jefferson presents a compelling blend of space, value, and potential. Its key strength lies in its generous proportions relative to the immediate area. With 1,050 sqft of living space and a nearly 5,000 sqft lot, it offers more room than most comparable homes on Kilbride Avenue and within the Jefferson neighbourhood. This is complemented by a renovated basement, adding functional living area, and a detached garage.
The appeal is rooted in its standout assessed value, which ranks in the top 4% on its street and top 8% in Jefferson, suggesting a strong perception of value for the property. Built in 1954, it is a newer home among its local peers, which may imply fewer immediate concerns with aging infrastructure. The property suits practical buyers looking for a home with room to grow or customize, without paying a premium for a larger lot or finished space elsewhere. It’s particularly suited for those who value above-average indoor and outdoor space in a neighbourhood context, and for owner-occupants or investors who recognize the inherent value in a home that outperforms its direct comparables on key metrics.
Frequently Asked Questions
1. What does the high assessed value ranking actually mean?
It indicates that, for its street and neighbourhood, this property is officially valued significantly higher than most peers. This often reflects desirable attributes like its larger lot and living area, and can be a positive factor for long-term value, though property taxes will be based on this assessment.
2. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.
3. How does the sold price history from 2019 relate to today's value?
The 2019 sale price provides a historical benchmark, but market conditions have likely changed. The current assessed value of $34,800k is a more current, though not market-based, indicator for comparison.
4. The home is newer than others on the street. Are there any drawbacks to a 1954 build?
While newer than many neighbours, a 70-year-old home will still have age-appropriate considerations. The key systems (roof, plumbing, electrical) may have been updated, but their current condition and the quality of the basement renovation should be verified through inspection.
5. The lot is large for the area. What are the possibilities and responsibilities?
The nearly 5,000 sqft lot offers great potential for gardening, expansion, or outdoor living space—a relative rarity on the street. This also means more yard maintenance and potentially higher landscaping costs compared to neighbours with smaller plots.