Property Overview: 218 Yale Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home in Kern Park, built in 1921. With 774 sqft of living space, it is notably smaller than most area homes, positioning it as a true starter home or a downsizing opportunity. Its assessed value is modest and below the city average, suggesting a lower property tax burden and an accessible entry point into the market.
The primary appeal lies in its generous, above-average lot size for the Kern Park neighbourhood (4,950 sqft). This presents a significant opportunity for expansion, gardening, or outdoor living that is uncommon for homes in this price bracket. The basement exists but is unrenovated, representing both a project and potential for added space.
This property would best suit a practical, value-conscious buyer—perhaps a first-time purchaser comfortable with a cozy footprint, an investor looking for a land-value play, or someone seeking a manageable property with clear potential to add value through a future addition or landscaping. It’s not for those seeking move-in-ready finishes or ample indoor space.
Section 2: Frequently Asked Questions
1. Is the low living area a major drawback?
It depends on your needs. For a single person, couple, or minimalist household, it can be sufficient. The trade-off is the larger lot, which offers outdoor space rarely found with similarly priced homes.
2. What does "below average" assessed value mean for me?
It typically correlates with lower municipal property taxes compared to higher-valued homes in the area. However, it also reflects the home's smaller size and likely need for updates.
3. What can I do with the large lot?
Beyond gardening and recreation, the lot size is a key asset. It provides rare potential for a future home addition, a detached garage, or even subdivision, subject to city zoning and approvals.
4. How significant is the unrenovated basement?
It means the basement is in original or utility condition. It offers storage and mechanical space but would require investment to become finished living area. Consider it a blank canvas with associated costs.
5. The home is over 100 years old. What should I be concerned about?
Standard for Winnipeg, this age necessitates a thorough inspection. Focus on the foundation, plumbing, electrical systems, and insulation. While it has stood for a century, modernizing these core systems is often a priority for comfort and efficiency.