Property Overview: 503 Wayoata Street, Winnipeg
Key Characteristics & Appeal
This one-storey home in Kern Park presents a practical and value-oriented opportunity. Its key characteristic is a renovated basement, adding functional living space to the 969 sqft main floor. The detached garage and a land area of 4,501 sqft offer flexibility for parking, storage, or outdoor use.
The appeal lies in its strong positioning within its immediate context. While its living area is modest city-wide, it is above average for both its street and the Kern Park neighbourhood. More notably, its assessed value of $320k ranks well above average for the local area, suggesting a perception of solid value relative to nearby properties. The home suits first-time buyers seeking a move-in-ready foundation with renovation work already started, or downsizers looking for a manageable single-level layout in an established neighbourhood. A thoughtful perspective is that its older build year (1961) on the street might indicate a well-built character home amidst newer constructions, offering potential that newer infill properties on the block have helped bolster area valuations.
Frequently Asked Questions
1. How does this home’s size compare to others nearby?
At 969 sqft of living area, this home is larger than the average comparable home on Wayoata Street (~857 sqft) and in Kern Park (~1,047 sqft), making it a spacier option in its direct vicinity.
2. What does the assessed value ranking indicate?
An assessed value ranking in the top 24% for both the street and neighbourhood means this home is officially valued higher than most homes around it. This often reflects factors like lot size, condition, and recent improvements like the renovated basement.
3. Is the older build year a concern?
Built in 1961, it is one of the older homes on its street. This typically means due diligence on major systems (roof, wiring, plumbing) is important, but it also may come with more established landscaping and mature neighbourhood charm.
4. What was the last known sale price?
Public records indicate a sale occurred in December 2021, with a price range between $315,000 and $345,000. The exact sale price can be requested directly from the listing source.
5. What kind of properties are considered its peers?
The listing compares it to similar assessed-value homes in other neighbourhoods like Elmhurst and Varsity View, suggesting it competes in a price bracket that attracts buyers considering various established areas, not just Kern Park.