Property Overview: 1122 Colby Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Fairfield Park offers a practical and spacious family layout with over 2,000 square feet of living space, placing it well above the average Winnipeg home in size. Built in 2005, it is a relatively modern property that benefits from a renovated basement and an attached garage. The lot is a standard size for the area, providing typical outdoor space without extensive maintenance demands.
The primary appeal lies in its balanced positioning. It provides ample interior room in a move-in-ready condition, while its assessed value is notably below the average for its immediate street. This suggests potential value relative to its neighbors, especially for a home with a modern build year and updates. It would suit first-time buyers looking for a spacious starter home beyond a condo, or growing families seeking a functional layout in a stable neighborhood without the premium price tag of newer subdivisions. A thoughtful perspective is that while the home ranks average in its micro-area for features like lot size, its above-average citywide rankings for living space and build year highlight that it offers more substantial modern comforts than much of Winnipeg's older housing stock.
Section 2: Frequently Asked Questions
1. Is the property fairly priced compared to the area?
Based on the provided data, the home's assessed value is below the average for Colby Avenue itself, which could indicate a competitive starting point relative to direct neighbors, though market conditions and interior condition are the final determinants.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or listing agent, as it could range from cosmetic updates to a fully developed legal suite.
3. How does the living space compare to nearby homes?
At 2,033 sqft, the living area is slightly above the average for both Colby Avenue and the broader Fairfield Park neighborhood, offering more interior space than many comparable local properties.
4. The home sold in March 2022 for $600k. How is the current assessed value relevant?
The assessed value ($53.10k) is for municipal tax purposes and is not an indicator of market value. The 2022 sale price is a more relevant recent market benchmark, but it should be considered alongside current market trends and any changes made to the property since.
5. What are the implications of the build year (2005)?
A 2005 build means major components like the roof, windows, and HVAC system are likely approaching or within their typical lifespan for replacement. This is not a drawback, but it warrants a thorough inspection to anticipate future maintenance, unlike a brand-new home.