Property Overview: 460 McKenzie Street, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1943, offering a practical and straightforward living opportunity in the Inkster-Faraday neighbourhood. Its primary appeal lies in its efficiency and potential as an affordable entry point into the Winnipeg market. The 720 sqft living area is notably smaller than most local and city-wide averages, positioning this property for buyers comfortable with a minimalist footprint or seeking a manageable, low-maintenance space. A key asset is the 4,023 sqft lot, which is larger than many on its street and in the area, offering valuable outdoor space and future potential relative to the home's size. The detached garage adds practical storage or workshop space.

The home suits first-time buyers, investors, or downsizers looking for a functional property without a high price barrier. Its renovated basement adds usable living area, increasing its functionality beyond the main floor square footage. A thoughtful perspective is that while the home is modest in size and assessed value, it sits on a proportionally generous lot for the area—a combination that can represent a land-value opportunity in an evolving city. It’s a property where the value may be more grounded in its land and location than in its structure.

Frequently Asked Questions

1. Is the house in need of major updates?
The listing notes a renovated basement, suggesting some modernization. As a home built in 1943, buyers should budget for potential updates to the main floor systems, windows, or roof, which are typical for a house of this age.

2. How does the assessed value relate to the likely selling price?
The assessed value is a municipal figure for tax purposes and is often significantly lower than market value, as seen in the city-wide comparison. The selling price will be determined by current market conditions, demand for the area, and the property's specific features.

3. What are the advantages of a larger lot with a smaller house?
The larger lot provides more private outdoor space, better potential for gardening, parking, or additions like a shed or deck. It can also offer future redevelopment potential, subject to zoning, which smaller lots in the area may not.

4. What is the neighbourhood like?
Inkster-Faraday is an established, older neighbourhood. The proximity to similar homes on McKenzie Street suggests a consistent, residential setting. Prospective buyers are encouraged to visit at different times to assess traffic, noise, and overall community feel.

5. Where can I find exact historical sale prices?
The exact sold price history is not publicly displayed in detail. The listing service offers to provide this information directly via email upon request, as noted in the property details.