Property Overview: 395 Kensington Street, Winnipeg
Key Characteristics & Appeal
This bi-level home at 395 Kensington Street presents a compelling mix of modern convenience and location-based value. Built in 2007, it is a notably newer construction compared to most homes in the Kensington area and across Winnipeg, suggesting fewer immediate maintenance concerns and more contemporary building standards. With 859 sqft of living space and a renovated basement, it offers efficient, updated living.
Its primary appeal lies in its strong assessed value of $330,000, which ranks significantly above average for its immediate street and neighborhood. This indicates that the property is viewed as a high-value asset within its local context. However, the land area is compact at 2,495 sqft, which is below average for the area. This creates a specific profile: a modern, well-valued home on a smaller, low-maintenance lot. It would suit first-time buyers or downsizers seeking a turn-key, newer home in a central neighborhood without the burden of a large yard. It’s also a practical option for investors or buyers attracted by the property’s above-average financial assessment relative to its surroundings.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the selling price?
While the $330,000 assessment is well above the local street average, it is close to the city-wide average. The selling price will ultimately be determined by market conditions, but the high local assessment suggests strong perceived value for the area.
2. How does the smaller lot size impact living here?
The compact lot means minimal yard maintenance, which is a benefit for those seeking a low-upkeep property. However, it may limit options for expansions, additions, or extensive outdoor living spaces compared to other homes in Kensington.
3. The home sold in 2021 and 2016. What does that history suggest?
The previous sale prices, which were above local averages at the times of sale, indicate a history of the property commanding a premium. This pattern supports the current high assessed value and suggests sustained desirability.
4. Who might this property not suit?
Buyers prioritizing large private outdoor space, those looking for a sprawling floor plan (as the living area is below the city average), or families needing multiple large bedrooms might find the proportions limiting.
5. What is the significance of it being a "bi-level"?
Bi-level homes typically feature a split entry, with living areas spread over two main levels. This layout can offer good separation of space (e.g., bedrooms on one level, living area on another) but involves frequent use of stairs. The renovated basement adds to the functional living space.