Property Overview: 262 Smithfield Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home on Smithfield Avenue in the Jefferson neighborhood presents a solid, grounded opportunity. Built in 1949, it offers 1,191 sqft of living space and sits on a 5,340 sqft lot, with a renovated basement and a detached garage. The appeal lies in its established neighborhood context and practical proportions. Compared to its immediate street and local area, the home consistently ranks above average in living space and lot size, suggesting it offers more room than many nearby alternatives. Its assessed value of $290k is positioned around the local average, indicating a fair market alignment without premium pricing.
This property would suit first-time buyers or practical downsizers looking for a character home with updated fundamentals (like the basement) in a mature area. It’s for buyers who value space and location over new construction, and who appreciate a home that holds its own within its specific community rather than chasing city-wide averages. A thoughtful perspective is that while its city-wide rankings for value and year built are lower, this primarily reflects the home’s placement in an older, more affordable part of the city—which can be an advantage for buyers seeking value and stability without the premium of newer subdivisions.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $290k is for municipal tax purposes and serves as a benchmark. The last recorded sale was between $245k-$275k in late 2019. The selling price will be determined by current market conditions, the home’s specific condition, and buyer demand.
2. Is the living space size typical for the area?
Yes. With 1,191 sqft, this home offers above-average living space compared to most immediate neighbors on Smithfield Avenue and within the Jefferson area, where comparable homes average about 1,030-1,035 sqft.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finishes, ceiling height, permits, and whether it includes a separate entrance or additional bedrooms.
4. How does the lot size compare?
The 5,340 sqft lot is slightly above average for the Jefferson neighborhood, providing a decent outdoor space. It is, however, closer to the average when compared just to homes on Smithfield Avenue itself.
5. The home was built in 1949. What should I consider?
While the basement has been renovated, a home of this age will likely have original or aging components elsewhere, such as the roof, windows, plumbing, or electrical systems. A thorough inspection is essential to understand the upkeep required and to plan for future updates.