Property Overview
This home at 178 Kitson Street in Winnipeg's Norwood East neighbourhood presents a compelling blend of space, established character, and location. Built in 1912, it stands out primarily for its generous living area of 1,942 sq ft, which ranks within the top 5-12% of homes in both its immediate area and the wider city. This spaciousness is paired with a sizable lot of nearly 4,900 sq ft, offering ample outdoor potential. With an assessed value of $429,000, it sits above average for its street and neighbourhood, indicating a perceived premium.
The appeal lies in acquiring a home with above-average interior space in a mature, established community. It suits buyers looking for a character home with room to grow or adapt, who value the stability of an older neighbourhood over a new subdivision. A thoughtful perspective is that its older vintage (1912) means it likely possesses classic architectural charm but may also require a buyer comfortable with the maintenance or updating needs of a century-old structure. Its value proposition is clear: you are paying a premium primarily for significant interior square footage on a good-sized lot in a convenient location.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $429,000 is for municipal tax purposes and is typically based on past market data. It can be a useful benchmark, but the final selling price is determined by current market conditions, the home's specific state, and buyer demand.
2. What are the implications of the home being built in 1912?
This indicates a classic, solidly built home likely with character features. Prospective buyers should budget for a thorough inspection to understand the condition of major systems (like wiring, plumbing, and foundation) common to homes of this era, and factor potential updates into their plans.
3. The home sold in 2016 for between $300,000-$350,000. Why is the assessed value higher now?
This reflects nearly a decade of market appreciation and any improvements made to the property during that time. It highlights the importance of using current, neighbourhood-specific comparisons rather than historical prices when evaluating value.
4. The living area is large for the area, but the lot size is more average. What does this mean?
This suggests the home makes efficient use of its property, possibly with a larger footprint or multiple stories. It’s ideal for buyers prioritizing indoor living space over extensive, sprawling yard maintenance.
5. How can I get the exact historical sold price instead of the range shown?
The site notes that exact sold prices are not displayed publicly due to industry rules. You can request this information directly from them via email for a manual lookup, which they provide as a verified service.