Property Overview: 1019 Southwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated two-storey home in Beaumont presents a solid, no-fuss opportunity. Built in 1969, it sits on a generously sized lot that ranks in the top 12% for area on its street, offering more outdoor space than most in the immediate vicinity. A key feature is its renovated basement, adding valuable finished living space to the 1,152 sqft main footprint. The home boasts a detached garage and its assessed value places it in the top tier for the street and neighbourhood, suggesting it is viewed as a substantial asset relative to its surroundings.
The appeal here is grounded in value and location. It suits a practical buyer—perhaps a young family, a downsizer, or an investor—who prioritizes a larger lot and a move-in-ready basement over a brand-new build. The property’s strong rankings for lot size and assessed value in its immediate area indicate it’s a standout on its block, likely offering better-than-average privacy and potential for outdoor enjoyment or expansion compared to neighbours. It’s a home for someone who sees the inherent value in a established neighbourhood, where the land itself and the thoughtful updates (like the basement) are the primary drivers of worth.
Section 2: Frequently Asked Questions
1. How does the lot size compare practically?
At just under 3,000 sqft, the lot is notably larger than many on the street (top 12%). This typically translates to more backyard space, greater distance from neighbours, and potentially more room for gardening, play, or adding a deck.
2. What does the "renovated basement" likely include?
While specifics would require a viewing, a renovated basement in a home of this era often means it has been finished into a livable space such as a family room, office, or additional bedroom, with proper flooring, walls, and ceiling. It’s a significant functional upgrade from an unfinished cellar.
3. The home is 57 years old. What should I consider?
While the renovated basement is a plus, a buyer should factor in the age of major systems like the roof, plumbing, electrical, and windows. A thorough home inspection is essential to understand the condition and any upcoming maintenance typical for a home built in the late 1960s.
4. The assessed value is high for the area. Is that good?
A high assessed value relative to neighbours (top 14% on the street) generally indicates the municipal assessor views the property as more valuable, often due to lot size, improvements, or overall condition. This can be positive for equity, but it’s important to ensure the asking price is in line with recent market sales, not just the assessment.
5. Who would this home not suit?
It may not be ideal for someone seeking a modern, open-concept layout or extensive recent upgrades throughout. The living area is modest relative to the lot size, so the appeal leans more toward the potential of the land and the finished basement rather than expansive main-floor square footage.