Property Overview: 545 Regent Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Kern Park is a practical property that stands out for its value within its immediate area. Built in 1961, it offers 996 sqft of living space and sits on a 4,654 sqft lot, which is notably larger than many of its neighbours. A key feature is the renovated basement, adding functional space, and the property includes a detached garage. Its assessed value is well above average for both the street and the Kern Park neighbourhood, suggesting it is a higher-quality asset in this locale. The appeal here is grounded in space and position: you get a larger-than-standard lot and a home that compares favourably to nearby properties, all at a city-wide price point that remains accessible. This would suit first-time buyers seeking a solid entry into the market with room to grow, or practical investors looking for a character home with proven value in a stable, established neighbourhood. A less obvious perspective is that its above-average metrics for the area could provide a relative buffer in softer market conditions, as it's already positioned as a leader within its peer group.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in March 2022 for between $365,000 and $395,000. Its current assessed value is $342,000, which is above average for Kern Park. This difference is important to discuss with your real estate agent to understand current market value.
2. What is the significance of the lot size?
At 4,654 sqft, the lot is larger than many on the same street and in Kern Park. This offers more outdoor space than is typical for the area, which could be used for gardening, expansion, or simply more privacy.
3. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify the permits and status of the renovations to understand its legal use and potential rental income.
4. How does the living space compare to newer homes?
At 996 sqft, the living area is modest by city-wide standards but is actually around average for Kern Park. The renovated basement effectively increases the usable space, making the home feel larger than the main-floor square footage suggests.
5. What are the implications of the home's age?
Built in 1961, the home is newer than many in its immediate vicinity. While this can mean updated building materials and systems compared to older neighbours, a professional home inspection is still essential to assess the condition of the roof, wiring, plumbing, and the scope of the basement renovation.