Property Overview: 501 Kimberly Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 501 Kimberly Avenue in the Rossmere-B neighborhood is a classic, no-frills Winnipeg property that represents an accessible entry point into homeownership. Built in 1955, its key characteristic is its modest 798 sqft living area, which is notably smaller than averages for the street, neighborhood, and city. This compact size is balanced by a slightly larger-than-average lot for the area at 5,690 sqft, offering valuable outdoor space.

The primary appeal lies in its financial accessibility. With a tax assessment of $273,000, it sits below average for both the neighborhood and the wider city, suggesting a potentially lower price point and tax burden. This is a home for practical buyers: first-time purchasers seeking a manageable starter home, investors looking for a rental property, or downsizers who value a smaller interior footprint and a generous yard. Its consistent ranking as "below average" for living space but "near average" for lot size and build year highlights a specific trade-off—you’re investing more in the land and location than in square footage. A thoughtful perspective is that this smaller home may offer lower utility costs and less maintenance, while the sizable lot presents opportunities for gardening, expansion, or simply enjoying private outdoor space—a feature sometimes scarce in this price range.

Section 2: Frequently Asked Questions

1. How does the small living space compare to nearby homes?
The home’s 798 sqft living area is significantly smaller than the local averages (approx. 1,042 sqft on the street). Recent comparable sales in the area, however, show several homes between 936 and 1,040 sqft, indicating this is on the more compact end of the typical range for these 1950s-era houses.

2. Is the tax assessment a reliable indicator of market value?
The $273,000 assessment is a key figure for calculating property taxes, not a guaranteed sale price. It is below the community and city averages. Market value is determined by current conditions, but this lower assessment can be a positive indicator of a relatively lower ongoing tax cost.

3. What can the 2016 sale price tell us?
The home sold for an estimated $200,000-$250,000 in mid-2016. This provides a historical benchmark, but given the time elapsed and market changes, its relevance to today’s value is limited. It primarily confirms the property has been transacted in a more affordable price bracket.

4. What are the implications of a 1955 build year?
Built in 1955, the home is of a very common vintage for its area. This suggests potential for original features but also means crucial systems like roofing, plumbing, and electrical may be at or beyond their typical lifespan, making a thorough inspection essential.

5. How does the lot size benefit a smaller home?
At 5,690 sqft, the lot is larger than many in Rossmere-B. For a compact home, this is a significant asset, providing room for decks, play areas, gardens, or future sheds. It offers a sense of space and privacy that the interior floor plan does not.