Property Overview: 525 Mcmeans Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Kildare-Redonda presents a practical and value-oriented opportunity. Its key appeal lies in a strong combination of lot size and assessed value relative to its immediate neighborhood. With 960 sqft of living space, the house itself is modest and typical for the area, but it sits on a larger-than-average lot for the street (over 5,000 sqft). Notably, its assessed value ranks in the top 4% on Mcmeans Avenue E, suggesting it is viewed favorably compared to its direct peers, a fact supported by its recent sale in early 2024.
The home features a renovated basement and a detached garage. Built in 1971, it is of a similar vintage to many homes in the area. This property would suit first-time buyers or practical investors looking for a solid entry point into a mature neighborhood. It’s particularly suited for those who prioritize land value and future potential—such as expansion or outdoor space—over a large existing footprint. The data indicates you’re buying a property that stands out on its block for its official valuation and land parcel, even if the interior space is compact.
Section 2: Frequently Asked Questions
Q1: How does the assessed value compare to the recent sale price?
The home was assessed at $35,200 and sold for between $35,500 and $38,500 in March 2024. The sale price range is close to the assessed value, which is relatively high for this specific street, indicating the sale was in line with its perceived official worth.
Q2: Is the living space smaller than average?
Yes, but context matters. At 960 sqft, it is slightly above average for the Kildare-Redonda area but below the city-wide average. On its own street, it ranks in the top 34% for size, meaning it is actually one of the larger homes among its closest neighbors.
Q3: What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope or finishes. This is a key detail to clarify with the seller or agent to understand if it’s a full living space, a recreational room, or simply updated basics.
Q4: The lot size is mentioned as a standout feature. What are the possibilities?
At over 5,000 sqft and ranking in the top 9% on the street for land area, the lot offers more outdoor space than most nearby properties. This provides room for gardening, play, or future additions like a shed, deck, or even an extension, subject to local zoning.
Q5: How does the age of the home (1971) affect things?
Built 55 years ago, the home is typical for the neighborhood. This age means potential buyers should budget for updates to major aging components like the roof, windows, or heating system, while also appreciating the character and established landscaping of a mature property.