Property Overview: 427 Victoria Avenue E, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home in Kern Park, built in 1914. Its primary appeal lies in its exceptionally low financial barrier to entry, underscored by an assessed value that ranks in the bottom 5% citywide. With 819 sqft of living space, the home is modest in size but sits on a lot that is above average for the immediate neighbourhood. The basement has been renovated.

This property would suit a specific type of buyer: those seeking absolute minimum upfront cost, such as a first-time buyer prioritizing land ownership over living space, or an investor looking for a straightforward rental opportunity with a very low property tax base. Its value proposition is fundamentally about the land and location, not the size or condition of the century-old structure. A thoughtful perspective is that this home represents a rare entry point into the market where the potential future value is more tied to the land's redevelopment potential than the existing building's appreciation.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
The assessed value is based primarily on the property's market characteristics. For this home, its very small size (819 sqft), older age (1914), and lack of a garage contribute to a valuation that is significantly below averages for the street, neighbourhood, and city.

2. What does "above average" land area in Kern Park mean?
While the 4,950 sqft lot is around average citywide, it ranks in the top 21% within Kern Park itself. This means the lot is larger than many in the immediate area, which could be a advantage for outdoor space or future expansion, relative to the neighbourhood.

3. Who would be the ideal buyer for this home?
It's best suited for buyers with a tight budget for whom low purchase price and low annual property taxes are the primary drivers. This could include investors, or owner-occupants willing to live modestly and possibly renovate over time.

4. The home sold in late 2021. What did it sell for?
The public data indicates a sold price range between $14.5k and $17.5k in November 2021. The exact sale price is available upon direct request from the listing source.

5. How does the age of the home (1914) factor in?
Built 112 years ago, the home is older than most in Winnipeg. This typically implies a need for closer attention to foundational, mechanical, and historical maintenance. It's advisable to budget for potential updates and ensure thorough inspections.