Property Overview: 494 Kildarroch Street, Winnipeg
Key Characteristics & Appeal
This home presents a compelling case for value-focused buyers seeking a well-situated lot in Winnipeg's Robertson neighborhood. Built in 1948, its primary appeal lies in the land itself: at 4,516 sqft, the lot size is notably above average for its street, ranking in the top 8%. This offers valuable outdoor space and potential for gardening, expansion, or future development, which is a significant asset in an established area.
The 735 sqft living area is compact, placing it below average for the street, neighborhood, and city. This positions the home as an efficient, manageable space, likely suited for a first-time buyer, downsizer, or investor. The assessed value of $273k is above the street average, suggesting the property is viewed favorably relative to its immediate peers, likely due to its generous lot. Recent sold price data indicates it transacted in the $250k-$300k range, which was a top-tier price for the street but more moderate city-wide.
This property suits practical buyers who prioritize land value and location over square footage. It’s ideal for someone comfortable with a smaller, classic home footprint who sees the long-term value in a larger lot, or for an investor considering the land's future potential. Its appeal is grounded in substance over size, offering a stake in a mature neighborhood without the premium often attached to larger, renovated homes.
Frequently Asked Questions
1. Is the house too small?
At 735 sqft, the living space is compact and below area averages. It requires efficient use of space and would not suit those needing multiple large rooms. However, its manageable size means lower utility costs and less maintenance.
2. Why is the assessed value higher than some neighbors if the house is smaller?
The assessed value reflects more than just the house. The lot is significantly larger than others on the street (top 8%), which adds substantial value. Assessments consider the total property potential.
3. What does the sold price ranking tell me?
The home sold in a price range that was in the top 4% for its street but only the top 66% city-wide. This indicates it commanded a strong price for its specific block, likely due to the lot size, but remains accessibly priced compared to the broader Winnipeg market.
4. Are there opportunities to expand or renovate?
The generous lot size provides a clear opportunity for future expansion, like an addition or a large garage, subject to zoning and permit approvals. The smaller existing structure makes a thoughtful renovation or expansion more feasible.
5. How does the age of the home (1948) affect things?
The year built is typical for the area. Buyers should budget for potential updates to older mechanical systems, insulation, or windows. However, homes of this era often feature solid construction and simpler, more modifiable layouts.