Property Overview: 2080 Knowles Avenue, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Kil-Cona Park is defined by its substantial and versatile land. The property sits on a 43,605 sqft lot, which ranks in the top 1% city-wide for size, offering exceptional outdoor space and potential. The house itself, built in 1971, features 1,499 sqft of living space—above average for its street—and includes both an attached and a detached garage. A renovated basement adds functional living area.
The primary appeal lies in a rare combination: a home with a very high assessed value relative to its immediate area and street, indicating strong perceived worth, paired with an unusually large urban parcel. This creates a standout opportunity for buyers who value space and future potential over a newer build. It would perfectly suit someone looking for a long-term family home with room for gardens, recreation, or expansion, or an investor/developer attracted by the lot’s significant size and above-average valuation in a mature neighbourhood.
Frequently Asked Questions
1. Why is the assessed value so much higher than recent sale prices?
The assessed value is a municipal valuation for tax purposes, reflecting factors like lot size, improvements, and market trends. The sale price from 2020 is a historical snapshot; the current assessed value suggests the property's official valuation has risen significantly since then, which is common for homes with substantial land.
2. What can I do with such a large lot?
Beyond extensive private yards and gardens, a lot of this size (approximately one acre) may offer future potential for additions, like a workshop, extensive landscaping, or even subdivision, subject to all City of Winnipeg zoning and bylaws. It provides a level of privacy and space rare within the city.
3. How does the age of the home (1971) affect things?
While the home is older than many in Kil-Cona Park, it has been updated with a renovated basement. Buyers should budget for maintenance typical of a 55-year-old home, but may find the character and established neighbourhood outweigh the age, especially given the exceptional lot.
4. The home sold in 2020. What might explain its value now?
The 2020 sale price reflects the market conditions of that time. The current high assessment likely captures the intrinsic value of the large lot, the basement renovation, and overall property improvements, which the market may not have fully recognized in the prior sale.
5. Who are the most likely buyers for this property?
It appeals to two main groups: families or individuals seeking a spacious, long-term home with ample outdoor room in a quiet area, and value-oriented buyers or investors who recognize the unique worth and potential of the large, high-assessment lot in a established community.