Property Overview: 506 Yale Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Kern Park is a practical, no-frills property built in 1966. With 1,026 sqft of living space and a detached garage, it sits on a modest 3,303 sqft lot. Its key appeal lies in its position as an accessible entry point into the Winnipeg market. The home’s assessed value is notably below average for the city, suggesting a lower property tax burden and an opportunity for buyers focused on fundamentals over premium finishes. The basement is noted as unrenovated, presenting a clear project for future value addition.
This property would suit a first-time buyer, an investor, or a hands-on owner comfortable with gradual improvements. Its smaller scale and lower operating costs could also appeal to downsizers seeking simplicity. A less obvious perspective is its relative modernity for the area—it’s a newer build compared to many neighbouring homes, potentially meaning fewer immediate concerns with aging infrastructure common in much older houses. The appeal is grounded in value and potential, not in turn-key luxury.
Section 2: Frequently Asked Questions
1. What is the true price of this home?
The last recorded sale was in October 2023, in the range of $235k-$265k. The current assessed value is $261,000. For the exact historical sold price, you can request it via email from the listing source.
2. How does this home compare to others in the area?
The data shows a mix. Its living space is about average for Kern Park but below the city average. Its lot size is smaller than most in the immediate area and citywide. However, it is a newer construction than most homes on its street and in the neighbourhood.
3. What should I know about the condition?
The listing explicitly notes the basement has not been renovated. Buyers should budget for updating this space and consider a thorough inspection to identify any other deferred maintenance, as the home is nearly 60 years old.
4. Who might this property not suit?
It may not be ideal for buyers seeking a large lot, extensive outdoor space, or a move-in-ready home with a finished basement. Those needing more than ~1,000 sqft of living space may also find it limiting.
5. What is the potential here?
The primary opportunities are in the unfinished basement, which allows for customization, and the value derived from a lower purchase price and assessment. It’s a property where equity can be built through thoughtful updates over time rather than through an already-premium location or size.