Property Overview: 472 Smithfield Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home on Smithfield Avenue in the Jefferson neighbourhood presents a solid, value-oriented opportunity. Built in 1950, its key strength lies in its above-average assessed value for both the street and the wider area, suggesting it is viewed favorably relative to its peers. With 1,165 sqft of living space and a renovated basement, it offers functional space for a small family or a couple. The lot is a generous 5,338 sqft, providing ample outdoor space in a city where that can be a premium.
The appeal here is grounded in practicality and location. It suits a first-time homebuyer or a pragmatic investor looking for a home with established value in a mature neighbourhood. It’s not the newest or largest home city-wide, but its metrics indicate it stands out positively within its immediate context. A thoughtful perspective is that this property represents a "middle ground" – it avoids the premium costs of newer subdivisions or the potential major repairs of much older homes, offering a balanced entry into homeownership.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in late 2020 for an estimated $27.5k-$30.5k. Its current assessed value of $32.1k is higher, placing it in the top 14% on its street. This indicates the property is assessed above the local average, which can be a positive sign for underlying value.
2. What is the significance of the "renovated basement"?
While specific finishes aren't detailed, a renovated basement adds functional living space, which is a significant asset. It’s important to clarify the scope of the renovation, ensure it was permitted, and check for any moisture issues common in basements of this era.
3. Is the detached garage a plus or a minus?
A detached garage offers flexible space for storage, a workshop, or a vehicle. However, it requires separate maintenance and can be less convenient in winter than an attached garage. Its condition and size should be factored into your evaluation.
4. The home is older. What should I be mindful of?
Built in 1950, major systems like the roof, plumbing, electrical, and foundation should be carefully inspected. The age also means potential for charming original details, but also for outdated materials that may need updating.
5. How does the lot size benefit a buyer?
At over 5,300 sqft, the lot is larger than many in the city. This provides valuable outdoor space for gardening, recreation, or future additions like a deck or shed. It also offers a greater sense of privacy than a smaller lot.