Property Overview
This one-and-a-half storey home in Kern Park is defined by its practicality and value. Its key appeal lies in being a modest, renovated starter home with a detached garage on a standard city lot. At 721 sq ft of living space, it is notably compact, ranking below average in size for its street, neighborhood, and city. Built in 1912, it is a century-old character home. The basement has been renovated, adding functional living space. The most recent public sale data shows it sold in the range of $12.5k to $15.5k in late 2017, with a current assessed value significantly lower than the citywide average for homes.
This property would suit a very specific buyer: first-time purchasers or investors seeking an entry point into the Winnipeg market with minimal upfront investment. It’s a home for someone comfortable with a smaller footprint, possibly looking for a live-in renovation project beyond the basement, or an investor considering a long-term hold or rental opportunity. Its below-average metrics across the board suggest it’s not for those seeking premium space or modern builds, but rather for those who see potential in fundamentals—a solid lot, a garage, and a renovated core area—at a likely accessible price point.
Frequently Asked Questions
1. What does "below average" ranking for living area and assessed value actually mean for a buyer?
It indicates this is a more affordable, compact property compared to most homes. You are paying for land, location, and essentials, not for abundant finished space. This can be an advantage for keeping property taxes and maintenance costs lower.
2. The home sold for between $12.5k and $15.5k in 2017. Why is that price so low?
This very low sale price from several years ago is important historical context but does not reflect current market value. It may have been a distressed sale, a transfer between parties, or sold with significant issues. The assessed value and current listing price (not provided in this data) are the relevant figures for today's market.
3. The basement is renovated, but what about the rest of the 114-year-old home?
While the basement work is a positive, prospective buyers should prioritize an inspection of the main and upper floors. Key areas for an older home like this include the roof, foundation, electrical, plumbing, and insulation to understand the true scope of any needed updates.
4. Who might this property not be suitable for?
It is likely not suitable for families needing multiple bedrooms or ample living space, or for buyers unwilling to manage the upkeep and potential repair needs of a century-old structure. Those seeking a turn-key, modern home should look elsewhere.
5. The detached garage is a noted feature. How much value does it add in this context?
In a neighborhood with mostly older homes, a detached garage is a significant practical asset for vehicle protection, storage, or as a workshop space. It adds functional value that many similarly priced properties may lack, offsetting some of the compact living space inside the house.