Property Overview: 141 Kingston Row, Elm Park, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in Elm Park presents a distinct profile defined by a significant contrast. The house itself is modest, with a living area (888 sq. ft.) well below local and city averages, and it retains its original, unrenovated basement. Built in 1917, it is among the oldest homes in the area. The assessed value is relatively moderate for the city and aligns with the Elm Park average.

The property’s compelling appeal lies almost entirely in its exceptional lot. At over 14,500 sq. ft., the land area is in the top 1-4% of all comparable listings in Elm Park and citywide. This creates a rare opportunity within a mature neighbourhood.

This home would best suit a specific type of buyer: those who value land and potential over immediate move-in condition. It’s an ideal canvas for a builder, an investor, or a homeowner with a vision for a custom renovation or expansion who is willing to undertake a project. It also appeals to buyers seeking immense private outdoor space in a central location, for whom the existing house serves as a functional starting point. The price point reflects this duality—you are primarily investing in a premier lot with a vintage house included.

Section 2: Frequently Asked Questions

1. Is this a teardown property?
Not necessarily. While the land is the standout feature, the 1917 one-storey home is still functional. The decision to renovate, expand, or rebuild would depend on a buyer's goals, budget, and the feasibility of modernizing the existing structure.

2. Why is the living space so much smaller than the average?
The home is a classic example of early 20th-century housing, built at a time when floor plans were often more compact. Its size is characteristic of its age, especially when compared to post-war and modern constructions in the area.

3. How does the large lot impact property taxes?
While the lot is large, the current assessed value of $340k is used to calculate taxes. This assessment balances the high-value land with the modest improvement (the house). Any future significant renovation or rebuild would trigger a reassessment.

4. What are the implications of an unrenovated basement?
This indicates the basement remains in its original state, likely with lower ceilings and foundational systems (plumbing, electrical) from a much earlier era. It represents both a cost consideration for any modernization and a blank slate for a future design.

5. The sale price in 2021 was significantly lower than the current assessed value. What does this mean?
The 2021 sale likely reflected market conditions and the property’s state at that time. The current assessment suggests a market recognition of the underlying land value and overall property potential in today’s market, which has shifted considerably.