Property Overview
1419 Somerville Avenue is a well-situated, one-storey home in Beaumont, built in 1960. It sits on a large, 6,566 sqft lot, which is notably larger than most in the immediate area. The home itself is 1,030 sqft and features a renovated basement and a detached garage. Its most compelling recent history is a sale in June 2022 for $500,000, a price that ranks in the top tier for the street and neighbourhood, suggesting a premium was paid for its condition or potential.
Key Characteristics & Appeal
The primary appeal of this property lies in its combination of a spacious lot and recent, significant investment, as evidenced by the 2022 sale price. The renovated basement adds functional living space, while the detached garage offers flexibility. The lot size is a standout feature, providing ample outdoor space and potential in a neighbourhood where many properties are more compact.
This home would suit a buyer looking for a solid foundation in a mature neighbourhood, who values outdoor space over a large interior footprint. It’s ideal for someone comfortable with a home from the 1960s, likely seeing value in its good bones and the recent updates. The buyer profile might range from a downsizer seeking a manageable home with a great garden to a practical investor or family looking for a property with proven value appreciation and room to grow outdoors.
A less obvious perspective is the "value validation" provided by the 2022 sale. A buyer isn't taking a chance on an untested price; they're acquiring a property that a recent buyer found worthy of a premium. Additionally, while the living area is modest, the large lot offers a rare commodity—space—which is increasingly valuable and impossible to add later.
Frequently Asked Questions
1. Why was the 2022 sale price so high compared to the assessed value?
Assessed value is for municipal tax purposes and often lags behind market value. The $500,000 sale price likely reflects a competitive market at that time, the renovated condition of the basement, and the desirability of the large lot.
2. What is the neighbourhood (Beaumont) like?
Beaumont is a mature, established neighbourhood in Winnipeg. It typically offers a mix of older, character homes on tree-lined streets, with good access to local amenities and schools.
3. Are there any concerns with a home built in 1960?
As with any home of this age, a thorough inspection is essential. Key focus areas would include the roof, wiring, plumbing, and foundation to determine the condition and what updates, if any, have been made over time.
4. What are the advantages of a detached garage?
A detached garage provides flexibility—it can be used for vehicle storage, as a workshop, or for extra storage without impacting the main house's layout. It also offers potential for future conversion or development, subject to local bylaws.
5. How does the lot size compare to nearby properties?
At 6,566 sqft, this lot is significantly larger than many in the area. The data shows it ranks in the top 7% on its street and top 26% in the neighbourhood for land area, which is a key differentiator for this property.