Property Overview
This 1,088 sqft bi-level home at 1614 Concordia Avenue E in Winnipeg's Grassie neighbourhood presents a practical and affordable entry point into the market. Built in 1987, it sits on a standard 4,341 sqft lot and features a renovated basement and a detached garage. Its assessed value is notably modest compared to city-wide averages, which is reflected in its historical sale price.
The appeal here is grounded in value and function rather than size or luxury. It ranks as a smaller home for its immediate area and neighbourhood, meaning buyers are paying primarily for the structure and location rather than expansive square footage. This suits first-time buyers, downsizers, or investors seeking a straightforward, lower-maintenance property with updated essentials (the basement) and without the premium price tag of larger, newer homes. A thoughtful perspective is that its "below average" size for Grassie might translate to lower utility costs and less upkeep, appealing to those seeking efficiency. Its city-wide "around average" assessed value suggests it's a representative, no-frills Winnipeg property, not an outlier in either direction.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value ( $37,600 ) is for municipal tax purposes. The market value—what a buyer would pay—is determined by current market conditions and can be significantly higher, as hinted at by the provided historical sold price range.
2. How does the home's size compare practically?
At 1,088 sqft of living area, it is smaller than many homes in the Grassie area. This indicates efficient use of space and likely lower heating/cooling costs, but buyers should ensure the layout meets their needs for bedrooms and living areas.
3. What does the sold price history indicate?
The home sold in August 2017 for an estimated $27,500-$30,500. This historical data point, significantly below the current assessed value, highlights strong market appreciation over the past several years and provides a baseline for understanding the property's price trajectory.
4. What are the implications of a "renovated basement"?
While a positive feature indicating updated living space, it's important to clarify the scope, quality, and permits of the renovation. A finished basement adds functional area but should be inspected for moisture issues or finishing quality.
5. How does the detached garage affect utility?
A detached garage offers flexibility (e.g., workshop potential, separation from house noise/fumes) but means dealing with the elements when going between your car and home during Winnipeg winters—a practical consideration for daily living.