Property Overview: 803 Leola Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Kern Park is a classic, no-frills property built in 1942. Its key characteristic is its affordability, reflected in a living area of 888 sq ft and an assessed value significantly below city averages. The home sits on a 3,660 sq ft lot, which is fairly typical for the immediate street and neighborhood. It features a detached garage and an unrenovated basement, presenting a straightforward canvas.
The appeal lies in its position as a genuine entry-point into homeownership or a practical investment opportunity. It suits buyers with a limited budget who prioritize getting into the market in a stable, established neighborhood over move-in-ready condition. It would also suit an investor looking for a rental property with lower upfront costs, or a hands-on buyer who views the unrenovated spaces as a chance to add value according to their own taste and timeline. A less obvious perspective is that its smaller size and below-average assessment can translate to relatively lower property taxes, an ongoing financial benefit. This isn't a standout luxury home; its strength is in being a modest, functional property in a city where such options are becoming rarer.
Frequently Asked Questions
1. Is this a "fixer-upper"?
The listing notes the basement is "not renovated," suggesting the home may require updates. It is likely best suited for a buyer comfortable with some degree of maintenance or renovation over time.
2. How does the assessed value relate to the likely selling price?
The assessed value for tax purposes ($23,200) is a legal metric and is typically much lower than market value. Recent sold price history (ranging from ~$16.5k to ~$21.5k in past years) should be viewed in the same context—these are likely assessed values or data anomalies, not actual market sales. The true market price will be determined by current conditions.
3. What does the ranking data (e.g., "Top 82%") actually mean?
These rankings compare this home against groups of "comparable" properties. For example, "Top 82%" for living area on its street means its square footage is greater than 82% of comps on Leola Street, but because the comps average 1,020 sq ft, this home (888 sq ft) is still below that group's average size. It indicates the home is smaller than typical for the city overall.
4. What is the neighborhood like?
Kern Park is a long-established neighborhood in Winnipeg. The property's lot size and the age of nearby homes suggest a mature area with older tree canopy and traditional community character.
5. How can I find out what this house actually sold for in the past?
The listing provider states that exact sold price history is available by request via email, as the figures shown are estimated ranges from public data. They note this is a manual process with a same-day reply aim.