Property Overview
This one-and-a-half storey home, built in 1918, is a compact and historically characteristic property in Kern Park. With 1,066 sqft of living space, its size is fairly typical for the city but modest for its immediate street and neighbourhood. A key feature is its unfinished basement, offering functional storage or future expansion potential. The lot is notably smaller than most, at 2,475 sqft. The home’s assessed value is significantly below local and city averages, reflecting its age, condition, and lot size.
Its primary appeal lies in affordability and opportunity. It suits a first-time buyer or an investor looking for an entry point into the Winnipeg market with a property that has a clear, unrenovated canvas. The low property taxes, inferred from the low assessment, are a practical benefit. A less obvious perspective is that the very compact lot minimizes yard maintenance—a potential plus for those seeking a low-maintenance lifestyle close to the core. It would not suit buyers looking for move-in-ready finishes, ample outdoor space, or newer construction.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessment reflects the home's age, the unfinished condition of the basement, the smaller-than-average living area, and the notably compact lot size compared to neighbouring properties.
2. What does "one-and-a-half storey" mean for this house?
Typically, this style features a main floor with principal rooms and a second floor under sloped roof lines, often creating cozy bedrooms with unique character. Given the era, expect original layouts and potentially smaller upstairs rooms.
3. Is the small lot size a major drawback?
It depends on your priorities. It severely limits outdoor private space and parking options (there is no garage), but it also means very little yard work and lower associated maintenance costs.
4. How recent are the sold price comparisons shown?
The most recent sale data for this property is from June 2021. The market has likely changed since then, so these figures are a historical benchmark, not a current valuation.
5. What are the implications of an unfinished basement?
It provides valuable storage or utility space as-is. Any future finishing would require significant investment but would also be a primary way to increase the home's liveable square footage and overall value.