Property Overview: 481 Kingsford Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This Rossmere-A home presents a specific value proposition centered on its lot and location rather than its interior size. Built in 1960, the 816 sqft bungalow is notably compact, ranking below average in living area for its street, neighborhood, and city. However, its assessed value of $340k is above average for Kingsford Avenue and aligns with the neighborhood average, suggesting the value is anchored in other factors.

The primary appeal lies in its substantial 6,047 sqft lot, which is larger than most in the Rossmere-A area and above the citywide average for comparable homes. This offers significant outdoor space and potential for expansion or gardening. The home’s recent sale history (2022 and 2023) indicates stable demand in the $300k-$350k range, performing well against local benchmarks.

This property would best suit a first-time buyer, downsizer, or investor seeking an entry point into a stable neighborhood with a manageable footprint and a premium lot size. It’s a practical choice for those who prioritize yard space over interior square footage and are comfortable with a home that may require updates common to its era. The value is tangible but not extravagant, appealing to a pragmatic buyer.

Section 2: Frequently Asked Questions

1. Is the house too small?
At 816 sqft, the living space is compact, ranking in the bottom 20% on its own street. It suits efficient living or a couple, but growing families would likely find it restrictive without considering a future expansion, for which the large lot provides an option.

2. Why is the assessed value relatively high for a smaller home?
The assessed value ($340k) is bolstered by the above-average lot size and the home’s desirable location on Kingsford Avenue. Value in this case is driven more by the land and neighborhood than by the size of the dwelling itself.

3. How does the recent sale history affect the current value?
The home sold in both 2022 and 2023 within the $300k-$350k band, each time achieving a sale price that ranked in the top 30-40% for the immediate area. This consistent performance suggests a solid floor for its market value, despite broader city averages.

4. What are the likely considerations for renovation or updates?
As a 1960s bungalow, buyers should budget for potential updates to systems, insulation, and layout to modernize the living space. The large lot is a major asset for any future expansion, but the current floorplan requires efficient use of space.

5. How does this property compare to others on the street?
It sits in an interesting middle ground: it’s on an older, more established part of the street (ranked top 17% by year built), has a larger-than-average lot, but a smaller-than-average house. Direct neighbors on Kingsford Avenue have a wide range of sizes and values, indicating a streetscape of varied, mature properties.