Property Overview

This is a 875 sqft condominium located at 4-303 Leola Street in Winnipeg's Kern Park neighbourhood. Built in 1958, it presents a specific value proposition shaped by its comparative metrics. Its appeal lies in offering above-average interior space for its immediate area at a below-average citywide price point, creating an opportunity for budget-conscious buyers who prioritize square footage. The unit last sold in late 2021.

Key Characteristics & Ideal Buyer

The standout feature of this property is its living area. At 875 sqft, it ranks in the top 8% for size compared to similar homes on its street and in Kern Park, where the local average is just 762 sqft. This suggests a unit that feels more spacious than most in the building or area. However, its assessed value of $13,500 is significantly below the Winnipeg citywide average for comparable properties ($25,600), placing it in the top 92% citywide (meaning 92% of similar homes are assessed higher). This combination indicates a home that may offer more "space for your dollar" within its specific condo complex and neighbourhood, but which likely reflects its older building age (1958) and potentially lower finishes or condo amenities in the broader market context.

Its appeal is primarily practical and financial. It would suit a first-time buyer, an investor looking for an affordable rental unit, or a downsizer seeking a low-cost, low-maintenance home with a decent amount of room. The very low assessed value translates to correspondingly low property taxes, a key ongoing savings. A less obvious perspective is that a unit with these stats—older building, high space ranking locally, low value ranking citywide—often appeals to buyers who are pragmatic about equity growth taking a back seat to immediate affordability and living space. It’s a home to live in economically, rather than a vehicle for rapid appreciation.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's market value as determined by municipal assessors. Its significantly lower value compared to the citywide average is typical for older condo buildings (1958) in this price segment, reflecting factors like the building's age, common areas, and likely simpler finishes or amenities.

2. What does the "Top 8%" ranking for Living Area mean?
It means this 875 sqft unit is larger than 92% of comparable homes used for the benchmark on Leola Street and in Kern Park. The local average for similar units is only 762 sqft, so this condo offers notably more interior space than most in its immediate vicinity.

3. Are condo fees included in this data?
No, monthly condo fees are not detailed in this statistical summary. They are a crucial factor in the overall affordability of any condominium and must be investigated separately, as they cover shared expenses and can significantly impact your monthly budget.

4. The unit sold in late 2021. Is the sold price range provided the exact price?
No, the listed range ($11.5k ~ $14.5k) is an estimate based on public data. The exact sale price can be requested directly from the site, as noted in the details.

5. What are the implications of the building being built in 1958?
An older building can mean character and sturdy construction, but it also warrants careful attention. A review of the condo corporation's reserve fund study and minutes is essential to understand the financial health of the building and plan for any major repairs or renovations that older infrastructure may require.