Property Summary: 507 Victoria Avenue E, Winnipeg
Key Characteristics & Appeal
This one-storey home in Kern Park is a practical and updated property built in 1962. Its key characteristic is a recently renovated basement, adding valuable finished living space to the 966 sqft main floor. The home sits on a modest, manageable lot of 3,303 sqft and includes a detached garage.
The appeal lies in its move-in readiness with the basement update, offering a low-maintenance footprint ideal for downsizers, first-time buyers, or investors. The assessed value is notably strong for the Kern Park area, ranking well above the neighbourhood average, which suggests the property is in good condition relative to its peers. It suits buyers looking for a straightforward, single-level layout in an established neighbourhood without the upkeep of a larger yard or an older, unrenovated home. A thoughtful perspective: while the living area is smaller than many city homes, its efficient layout and renovated basement could provide ample space for the right buyer, representing a value-conscious entry into the market with renovation work already addressed.
Frequently Asked Questions
1. How does the property’s value compare to the area?
The home’s assessed value ranks in the top 15% within Kern Park, meaning it is assessed higher than 85% of comparable neighbourhood properties. This typically indicates above-average condition, updates, or desirability for the area.
2. Is the lot size a disadvantage?
The lot is below average in size for both the street and the city. This translates to less outdoor maintenance, which can be a benefit for those seeking a low-maintenance lifestyle, but may not suit buyers wanting extensive yard space.
3. What does the sold price history indicate?
The home sold previously in 2016 and 2019. The price ranges shown have consistently been around or above the average for the immediate area at those times, reflecting steady local demand.
4. Who might this property not suit?
It may not be ideal for buyers needing extensive main-floor living space, as the square footage is below the city average. Families seeking a large backyard or those preferring an attached garage might also look elsewhere.
5. What is the significance of the ‘renovated basement’ note?
This indicates the lower level has been modernized and finished into livable space. It’s a key feature that adds functional square footage and immediate value, as it’s a major project already completed.