Property Overview: 516 Ravelston Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home in Winnipeg's Kern Park neighborhood, built in 1906. With 726 square feet of living space, it is notably smaller than most homes on its street, in the area, and across the city. It sits on a 3,300 sqft lot, which is closer to the average for the immediate vicinity. Key features include a detached garage and an unfinished basement. The home's assessed value is significantly below local and city-wide averages.
Its primary appeal lies in its position as an accessible entry point into homeownership. The very low assessed value and recent sold price history suggest it is one of the most affordable detached properties available. This isn't a move-in-ready showhome; its value is in the land, location, and potential. It perfectly suits first-time buyers, investors, or handy individuals looking for a foundational project. The buyer should be prepared for the realities of a 120-year-old structure and see its below-average metrics not as drawbacks, but as the reason for its unique affordability. It's a property for someone who views a home as a long-term canvas rather than a finished product.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's age, smaller size, and condition relative to the broader market. It is characteristic of a historic, modest-sized home that likely requires modernization.
2. What are the main considerations with a home built in 1906?
Prospective buyers should budget for and investigate updates to major systems like wiring, plumbing, and insulation. While offering charm, a home of this age requires a thorough inspection to understand the scope of maintenance or renovation needed.
3. Is the lot size a limitation?
At 3,300 sqft, the lot is manageable and fairly typical for the specific street. It provides adequate outdoor space for a garden or patio without the high maintenance of a larger yard, which can be a practical advantage.
4. How reliable are the sold price ranges shown?
The ranges are based on publicly available data. For precise historical sale figures to inform your offer, you can request the exact sold price history via email from the listing service.
5. Who would this property not be suitable for?
It would likely not suit buyers seeking a turn-key, modern home with ample space for a growing family. Those unwilling or unable to undertake renovations or manage the upkeep of an older character home may find it a challenging fit.