Property Summary: 416 Yale Avenue E, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home in Winnipeg's Kern Park neighborhood, built in 1918. Its key characteristic is its modest scale: with 620 sqft of living space and a 3,300 sqft lot, it is notably smaller than most homes on its street, in the area, and across the city. The home has a detached garage and an unrenovated basement. Its assessed value is significantly below local and citywide averages.
The appeal lies in its position as an accessible entry point into the housing market. It suits buyers seeking a lower-cost footprint, such as first-time homeowners comfortable with a cozy layout, downsizers looking to reduce maintenance, or investors interested in a rental property with a relatively low tax assessment. Its age suggests classic character, but also implies a need for thorough inspection. A thoughtful perspective for the right buyer is viewing the smaller size not as a limitation, but as a manageable canvas for efficient, creative design and lower utility costs.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the home's smaller size, age, and specific market conditions in its area. It is consistently ranked below average compared to neighboring properties and citywide benchmarks.
2. What does "below average" for living area mean in practical terms?
At 620 sqft, the home's living space is less than half the average for Yale Avenue E (~1,539 sqft). This indicates a truly compact layout, likely with fewer or smaller rooms, requiring efficient use of space.
3. Is the unrenovated basement a major concern?
It represents both a consideration and potential. It will require inspection for moisture, foundation integrity, and systems (like wiring or plumbing). For a buyer, it also represents future potential to add value, subject to necessary upgrades and permits.
4. The home sold in 2020 for a much lower price than current assessments suggest. Why?
The 2020 sale price (between $16.5k-$19.5k) reflects the market at that time. The current assessed value for comparison is $22.10k. Market conditions, property changes, and assessment methodologies can all create variances between past sale prices and current valuations.
5. Who would this property not suit?
It may not suit buyers needing multiple bedrooms, dedicated workspaces, or ample storage. Those unwilling to take on potential maintenance or renovation projects associated with a 108-year-old home, even at a smaller scale, might also find it challenging.