Property Overview: 392 Kirkfield Street, Winnipeg
Key Characteristics & Appeal
This is a modest, one-storey home built in 1959, offering 1,112 sqft of living space with a renovated basement. It sits on a notably generous 6,148 sqft lot, which is above average for Winnipeg. The home’s assessed value is positioned below average for its immediate street but aligns more closely with broader neighborhood and city averages. Its appeal lies in its solid foundation as a functional, no-frills property with the significant upside of a large, private yard—a rarity in the city. The renovated basement adds practical, modern living space.
This property would suit first-time buyers or practical downsizers looking for an entry point into the market without major immediate renovations. It’s also a fit for value-oriented buyers who prioritize land size over a newer or more updated home, seeing potential in the lot itself for future enjoyment or expansion.
Frequently Asked Questions
1. 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 its compliance with local regulations if considering rental income.
2. How does the lack of a garage affect property value here?
While the home has no garage, the larger-than-average lot provides ample space for off-street parking and the potential to add a garage or shed, which could mitigate this for the right buyer.
3. The home is older—what should I be concerned about?
Built in 1959, major systems like roof, plumbing, and electrical may be at or beyond their typical lifespan. A thorough inspection is essential to understand the condition and any needed updates.
4. The assessed value seems low. Does that indicate a problem?
Not necessarily. The assessment is for taxation purposes and can be influenced by many factors, including the home’s age and modest finishes. It often differs from market value, which is determined by what buyers are currently willing to pay.
5. Why is the land size highlighted as a key feature?
At over 6,000 sqft, the lot is a standout asset. It offers privacy, space for gardening, recreation, or future additions—providing a sense of space that is increasingly uncommon and often more valuable than the structure itself in the long term.