Property Overview: 540 Kimberly Avenue, Winnipeg
Key Characteristics & Appeal
This 957 sqft bungalow, built in 1955, sits on a generous 5,575 sqft lot in Munroe West. Its primary appeal lies in its strong value proposition within its immediate context. While the living space is modest compared to the citywide average, the property stands out in its neighbourhood and on its street for its above-average assessed value ($343K), suggesting it is a well-regarded or improved home in the area. This creates an interesting dynamic: you are acquiring a home that is a high-performer on its block but priced within the broader city's mid-range.
The lot size is a significant asset, offering ample outdoor space that is larger than many in Munroe West. This combination—a manageable, single-level home on a sizable lot—would suit first-time buyers looking for a solid entry point with room to grow, or downsizers seeking a comfortable layout without sacrificing yard space. It’s a practical choice for someone who values neighbourhood standing and lot potential over sheer interior square footage. A thoughtful perspective is recognizing that its above-average assessment for the area could indicate less need for immediate major upgrades compared to neighbouring properties, potentially offering move-in readiness.
Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The assessed value of $343K is for municipal tax purposes and is a historical snapshot. It indicates the home is considered above average for Munroe West. Market value is determined by current sale prices, which can be higher or lower. This home last sold between $250K-$300K in 2017.
2. Is the living area sufficient for a small family?
At 957 sqft, the living area is typical for the neighbourhood but below the city average. It would comfortably suit a couple, a small family, or someone looking for a cozy, efficient layout. The sizable lot offers valuable expansion potential, subject to local zoning.
3. What does the "above average" ranking for assessed value in the area mean?
It means this home's municipal assessment is higher than 94% of comparable properties in Munroe West. This often reflects factors like renovations, additions, superior condition, or desirable lot features compared to its immediate peers.
4. How can I find out the exact historical sale prices?
The site provides sold price ranges for context. Due to industry regulations, exact MLS sale figures are not displayed online here. You can request the full, verified transaction history by emailing the site directly for a manual lookup.
5. What are the implications of a 71-year-old home?
Built in 1955, the home is of a typical vintage for the area. This means potential for classic charm and solid construction, but it warrants a thorough inspection to understand the condition and age of major systems like plumbing, electrical, and the roof.