Property Summary: 333 Smithfield Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1948, offering a renovated basement and a detached garage. Its primary appeal lies in its efficiency and affordability. With a living area of 720 sqft, it is notably smaller than most area homes, positioning it as a low-maintenance, budget-conscious option. The assessed value is well below city averages, suggesting a lower property tax burden and an accessible entry point into the market.
The lot size of 4,744 sqft is fairly typical for the Jefferson area, providing adequate outdoor space without being overwhelming. The home’s recent sale history indicates stable, modest value in the neighborhood.
This property would best suit first-time buyers, downsizers, or investors seeking a straightforward, manageable asset. Its size and price make it a practical choice for those prioritizing financial efficiency over space, offering a chance to build equity in a well-established community without a large upfront investment. A less obvious perspective is that a home of this scale can encourage a simpler, more intentional lifestyle, with lower utility and maintenance costs that free up resources for other priorities.
Frequently Asked Questions
1. Is the house in need of major updates?
The listing notes a renovated basement, but the main floor of the 1948 home may require modernization depending on personal taste and standards. A thorough inspection is recommended.
2. How does the small living area compare to nearby homes?
At 720 sqft, the living area is below average for Smithfield Avenue, the Jefferson area, and Winnipeg overall. This is the defining characteristic of the property, emphasizing efficient use of space.
3. What does the assessed value tell me about property taxes?
The assessed value of $26,500 is below local and city-wide averages. This typically correlates with lower municipal property taxes, which is a key ongoing cost advantage.
4. Can the detached garage be used for more than vehicle storage?
Yes. Beyond parking, the detached garage offers potential for a workshop, additional storage, or a flexible project space, adding utility not reflected in the home's square footage.
5. How stable has the home's value been?
Based on available data, the home sold in late 2019 for a price consistent with its current assessed value, suggesting its market value has remained relatively stable in that period.