Property Overview
This one-and-a-half storey home on Smithfield Avenue presents a practical opportunity in Winnipeg's Jefferson neighbourhood. Its key appeal lies in a balance of a recently renovated basement and solid value positioning within its immediate area. At 982 sqft, the living space is typical for the street and neighbourhood, though notably compact compared to the city-wide average. The standout metric is its assessed value, which ranks well above average for both the street and Jefferson, suggesting the property is viewed favorably relative to its local peers. Built in 1946, the home is of a common vintage for the area and sits on a standard-sized lot. A detached garage adds functional utility.
The property would suit a first-time buyer or practical investor looking for an entry point into a stable neighbourhood without overpaying for square footage. Its appeal is less about grandeur and more about sensible scale and relative value in a localized context. A thoughtful perspective is that while the home's size is modest by broader city standards, its above-average assessment for the area could indicate desirable lot placement, specific upgrades, or simply a strong foundational value that outpaces its immediate peers.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in February 2022 for an estimated $29.5K-$32.5K, which aligns closely with its current $31.4K assessment. This suggests a stable value history without dramatic fluctuations.
2. What does "above average assessed value for the street" actually mean?
It means this property's official valuation ranks in the top 16% on Smithfield Avenue. While the home itself is average in size and age for the street, this could reflect factors like the renovated basement, condition, or its specific lot, making it a higher-value proposition compared to its direct neighbours.
3. Is the living space sufficient for a small family?
At 982 sqft, the living area is slightly below the neighbourhood average. It would be a comfortable fit for a couple, a small family, or someone looking to downsize, but may feel compact for those accustomed to larger, newer homes common in other parts of the city.
4. What are the implications of a home built in 1946?
This is a typical build year for Jefferson. Buyers should budget for maintenance consistent with an 80-year-old home, such as potential updates to original plumbing or wiring, but can also expect character and construction methods from that era.
5. Why is the city-wide comparison for size and value so different?
The home is benchmarked as "below average" in size and "around average" in value city-wide because Winnipeg includes many newer, larger suburban homes. This highlights that the property's true competitive market is its local neighbourhood, where its size is standard and its value ranking is strong.