Property Overview: 1033 Kelsey Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 1033 Kelsey Avenue in Maybank is a practical, no-frills property built in 1949. Its key characteristic is its modest scale, with a living area of 707 sqft that is notably smaller than most comparable homes in the area and city-wide. It sits on a roughly average-sized lot for the neighbourhood, just under 5,000 sqft. The assessed value is significantly below average, reflecting its size and vintage.
The appeal lies squarely in value and opportunity. It represents one of the more accessible price points in its market, ideal for a first-time buyer, an investor, or someone seeking a lower-cost entry into homeownership with land. The lot size offers potential for future expansion or outdoor space that the current house footprint does not. It would suit a buyer comfortable with a home that may require updates, who prioritizes financial feasibility and location over move-in-ready size and finish, and who sees potential in a property where the value is anchored more in the land than the existing structure.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based primarily on the property's characteristics. This home's below-average living area and older age result in a lower assessment compared to the typical, larger, and often newer homes across Winnipeg.
2. What does the sold price history indicate?
The property sold twice in recent years (2019 and 2024) within the same general price range. This suggests a stable, entry-level market value for this specific home, relatively unaffected by broader market swings that impact higher-priced properties.
3. Is the small living area a major drawback?
It depends on your needs. For a single person, couple, or investor, it can be efficient and cost-effective. For a growing family, it would likely feel cramped. The data shows it is significantly smaller than most peers, so viewing the layout in person is essential.
4. How does the lot size compare, and why does it matter?
The lot is average for Maybank but smaller than the city-wide average. In this context, it's a relative strength for the property, offering a decent outdoor-to-indoor space ratio and possible redevelopment options that a tiny lot would not.
5. The home is older—what should I be most concerned about?
Built in 1949, major systems like plumbing, electrical, and the foundation should be a primary focus for inspection. Its age is typical for the immediate street but older than many homes in the broader neighbourhood and city, so potential maintenance costs should be factored into your budget.