Property Overview: 513 Yale Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home in Kern Park is a compact, historically grounded property built in 1912. With 864 sqft of living space and a 3,300 sqft lot, it sits below average in size for its street, neighborhood, and city. Its defining characteristic is a very low municipal assessed value ($18,500), which places it in the bottom tier of area properties. The home features a detached garage and an unrenovated basement.
The primary appeal lies in its position as an entry point into the Winnipeg market. It suits a specific buyer: someone seeking the absolute lowest price point for a standalone house, likely a hands-on investor looking for a rental property, or a very budget-conscious first-time buyer prepared for a significant renovation project. Its low taxes, stemming from the assessment, are a notable financial advantage. A less obvious perspective is that its consistent ranking in the bottom percentiles across all metrics presents a clear, unvarnished value proposition—there are no premium features to pay for, making it a purely functional investment in land and basic shelter. The recent sale history suggests it trades within a very narrow, predictable price band.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than typical homes?
The assessed value is based on the property's current state, size, and market factors. This valuation reflects its smaller size, age, and condition relative to other homes, resulting in significantly lower property taxes.
2. What does "unrenovated basement" typically imply?
This usually means the basement space is in original or utilitarian condition, lacking finished living areas like a rec room or modern bathroom. It may be suited for storage and utilities but will likely require work to be converted into comfortable living space.
3. Who would this property be most suitable for?
It is best suited for investors seeking a low-cost rental property or for owner-occupants with a strong DIY skillset and a renovation budget. It is less suitable for buyers looking for a move-in-ready home or above-average space.
4. How does the lot size compare, and what are the implications?
At 3,300 sqft, the lot is smaller than most in the area. This means lower exterior maintenance but also less potential for expansion or extensive outdoor amenities compared to properties with larger lots.
5. The sold price history shows a tight range. What does this indicate?
The property has sold in a narrow, low price range over recent years, indicating a very stable and predictable market value for this type of asset. It suggests the price is firmly anchored by its functional utility and condition, not subject to wide speculative swings.