Property Overview

This one-and-a-half storey home, built in 1946, is located on Kingston Row in the established Elm Park neighbourhood. With 1,784 square feet of living space and a renovated basement, it offers more room than many city-wide and neighbourhood averages. The home features an attached garage and sits on a 5,488 sqft lot. Its most recent sale was in June 2021 for $340,000, while its current assessed value is notably lower at $35,500, placing it below average for its immediate street but around average for the wider area. This creates an interesting dynamic between its recent market price and its official valuation.

Key Characteristics & Appeal

The primary appeal of this property lies in its above-average living space within a character home, complemented by modern updates like the renovated basement. It suits buyers looking for a move-in-ready home with more room than a typical bungalow, without the upkeep of a larger lot. The Elm Park location offers established charm and convenience.

A thoughtful perspective is its positioning relative to the market. While the home's living space ranks well, its assessed value is significantly lower than its last sale price and the street average. This could appeal to a value-conscious buyer who sees potential in the discrepancy, or it may require investigation into the assessment rationale. The lot size is smaller than others on Kingston Row, which translates to less exterior maintenance—a perk for some, but a limitation for others wanting expansive outdoor space. It’s a property that offers modern interior convenience within a classic neighbourhood frame, ideal for someone who prioritizes indoor living space over a large yard.

This home would best suit a young family or professional couple seeking character and space in a mature neighbourhood, and who are savvy enough to explore the details behind its valuation history.

Frequently Asked Questions

1. Why is there such a large gap between the 2021 sale price ($340k) and the current assessed value ($35.5k)?
Property assessments in Manitoba are for municipal tax purposes and are not intended to reflect market value. The assessed value is typically a fraction of the estimated market value. The sale price is a clearer indicator of its recent market worth.

2. How does the lot size compare to the neighbourhood?
At 5,488 sqft, the lot is around the average for the broader Elm Park area but is below the average for lots specifically on Kingston Row. This means less yard maintenance than some neighbours, but potentially less private outdoor space.

3. Is the living space configuration typical for a one-and-a-half storey design?
Yes, this style often features main-floor living areas and bedrooms, with additional finished space in the upper half-storey and basement. The renovated basement adds significant functional living area to the home's total footprint.

4. What does the "Top X%" ranking mean for the year built (1946)?
A ranking of Top 20% on its street for year built means it is newer than about 80% of comparable homes on Kingston Row. For its age, it is a relatively newer home on its street, though it is still an 80-year-old character property.

5. Are there any obvious concerns based on the provided data?
The data itself doesn't show concerns, but the significant difference between the sale price and assessed value, coupled with a below-average lot size for the street, are key points for due diligence. A buyer should investigate the reasons for the assessment and verify the property boundaries and any potential lot limitations.