Property Overview: 401 Kensington Street, Winnipeg
Key Characteristics & Appeal
This is a compact, modern one-storey home built in 2010, offering a low-maintenance lifestyle. With 874 sqft of living space and a renovated basement, it provides efficient and updated living quarters. Its standout feature is its exceptionally low property tax burden, as indicated by an assessed value significantly below area averages ($31,100 vs. a local average of ~$230,000). This creates a rare value proposition: a relatively new home with very predictable and manageable annual costs.
The appeal lies in this financial efficiency paired with a modern build. It suits first-time buyers seeking an affordable entry into the market without the worries of an older home, or downsizers looking to simplify their living arrangements and lock in low property taxes. A less obvious perspective is its potential appeal to an investor or buyer who prioritizes cash flow and cost certainty over square footage, as the low taxes improve long-term holding affordability. It’s important to note the lot is smaller than most in the area, which translates to less yard upkeep but also less private outdoor space.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
While the exact municipal assessment formula isn't public, it consistently values this property far below others on the same street. This results in substantially lower property taxes, which is a key financial advantage for the owner.
2. Is the house unusually small?
At 874 sqft, it is slightly below the city-wide average but is typical for the immediate Kensington area. It represents a more compact, efficient use of space rather than an outlier.
3. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This would be a key point to clarify with the seller or agent to understand if it’s a finished living space, a recreational room, or simply updated utilities.
4. How does the lack of a garage affect parking?
The property has no garage. Buyers should investigate on-street parking permits, restrictions on Kensington Street, and the practical availability of parking space, especially during Winnipeg winters.
5. The sold price history shows a range. What did it actually sell for?
The public data provides an estimated range. To obtain the exact sale price from 2021 or 2017, you must request it directly from SaveOnHouse via the email button provided in the listing details.