Property Overview
This 780 sqft, one-storey home at 523 Golf Boulevard in Winnipeg's Kirkfield neighbourhood is a compact, no-frills property built in 1956. Its key appeal lies in its very low municipal assessed value (approximately $23,700) and its above-average lot size for the immediate street, offering a 5,947 sqft parcel of land. The home lacks a basement, garage, and pool. Its living space is notably smaller than most comparable homes in the area.
This property would primarily suit a specific type of buyer: those seeking an extremely affordable entry point into homeownership, with the land itself being a significant portion of the value. It could appeal to an investor looking for a land-hold opportunity, a buyer comfortable with a major renovation or rebuild project, or someone with minimal space needs who prioritizes low carrying costs and outdoor space over a large interior.
A less obvious perspective is that this home represents a pure value proposition in a market where land is often the premium cost driver. While the house itself is modest, the lot offers potential that isn't reflected in the current assessed value. Its sale history shows a transaction in late 2021 for a price consistent with its current low assessment.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's specific characteristics: a very small, older home without a basement or garage on a street where values are generally below average. The valuation is based primarily on the existing structure's utility and recent sales of similar properties.
2. What are the main drawbacks of not having a basement?
A lack of basement means no traditional foundation for mechanical systems (furnace, water heater), significantly reduced storage space, and no potential for a below-ground rec room or suite. All living and utilities are confined to the main floor footprint.
3. Is the large lot a benefit despite the small house?
Yes, the lot is a key feature. It is larger than many on the same street and offers ample outdoor space for gardening, expansion, or future redevelopment, which is a relative rarity for homes at this price point.
4. Who would this property not be suitable for?
It would not suit families needing multiple bedrooms or more space, anyone unwilling to take on a renovation project, or buyers who require immediate move-in condition with modern amenities and ample storage.
5. The data shows the home is "below average" in many metrics. Is that a concern?
It accurately reflects the property's position as a smaller, more basic home in its market. This isn't necessarily a concern but a clear definition of its offering: it trades space and modern features for affordability and land. Its value is in its price point and lot size, not in its comparative size or assessed value rankings.