Property Overview: 61 Cornwall Boulevard, Winnipeg
Key Characteristics & Appeal
This two-storey home in Jameswood presents a compelling blend of established neighbourhood character and above-average metrics for its immediate area. Built in 1957, the 1,176 sqft house sits on a notably generous 7,092 sqft lot, which ranks in the top 4% on its street and top 3% in Jameswood. This offers significant outdoor space relative to most local comparables. The home features a renovated basement and a detached garage.
Its primary appeal lies in its strong positional value within a specific, established context. While its size is around the city-wide average, it stands out as elite or above-average on its own boulevard and within Jameswood for living area, assessed value, and land area. This suggests a property that is a top-tier offering on its block. The recent sale in 2024 at a price significantly higher than its 2016 sale indicates robust appreciation and sustained buyer interest in the location.
This property would suit buyers looking for a solid, established home with ample yard space in a mature neighbourhood. It’s ideal for someone who values being a top contender on their street rather than just comparing city-wide, and for those who see the potential in a renovated basement and the flexibility of a detached garage. It may also attract value-conscious buyers who appreciate homes with a clear history of steady value growth.
Frequently Asked Questions
1. How does the assessed value relate to the likely market price?
The assessed value is $35,500, which is in the top 4% for Cornwall Boulevard. However, the home sold for between $44,500 and $47,500 in August 2024. This is a typical example where market value significantly exceeds the municipal assessment for in-demand properties, so buyers should rely on recent sale prices for valuation.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope or quality of finishes. This is a key point for a buyer to investigate to understand if it’s a cosmetic update or a full legal secondary suite, and to check for permits and moisture protection.
3. Is the large lot a benefit for future expansion?
The 7,092 sqft lot is a major asset, offering ample space for gardens, play areas, or outdoor living. While it could potentially allow for an addition or garage expansion, any structural changes would be subject to local zoning bylaws and require proper permits.
4. How does the 1957 build year affect the home?
Built in 1957, the home is of a vintage that may have original components, like plumbing or electrical, that could need attention or updating. However, the data shows it is actually newer than most homes on its street and in Jameswood, which can be a relative advantage in an older neighbourhood.
5. Why are the "city-wide" averages for assessed value and lot size so different?
The city-wide average assessed value shown (~$390k) and average lot size (6,570 sqft) are benchmarks against all Winnipeg properties. This home’s lower assessment but very large lot for its area highlights how value is hyper-local; it's a larger-lot property in a neighbourhood where assessed values are generally more modest compared to newer or more central city areas.