595 Smithfield Avenue

Property Overview: 595 Smithfield Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home on a spacious 5,342 sqft lot presents a practical and value-oriented opportunity in Winnipeg's Jefferson neighborhood. Its key appeal lies in its balance of a renovated basement and a lot size that is above average for both the immediate street and the broader area. With 792 sqft of living space, the house itself is compact, suggesting efficient and manageable upkeep.

The data reveals a nuanced position: while the living area is modest compared to city averages, the property's assessed value ranks well above average on its own street. This indicates it may be perceived as a solid asset within its most immediate market context. The 1951 build date is notably newer than many homes on Smithfield Avenue, a less obvious advantage that could imply relatively updated core systems or construction.

This property would suit first-time buyers or downsizers seeking a lower-maintenance home with a generous yard for gardening or pets. It’s also a candidate for value-focused investors, given the renovated basement's potential for rental income (subject to local regulations) and the fact that its assessed value has historically trended above nearby sale prices, hinting at possible equity.

Section 2: Frequently Asked Questions

1. Is the house smaller than average?
Yes. At 792 sqft, the living area is below the average for both the Jefferson area and Winnipeg city-wide. This makes for a cozy, efficient footprint but may require creative use of space or an appreciation for simpler living.

2. What does the "above average" assessed value on the street mean?
It means that, compared to its direct neighbors on Smithfield Avenue, this home has a higher municipal assessed value than roughly 77% of them. This often reflects a favorable combination of its lot size, newer build year, and renovations relative to other homes on the block.

3. How has the property's value changed over time?
Based on available sale data, the home sold in the $22.5k-$25.5k range in 2017 and in the $31.5k-$34.5k range in 2022. This suggests a notable increase in that five-year period, though past performance is not a guarantee of future value.

4. What are the less obvious advantages of this property?
Two stand out: First, its 1951 construction is significantly newer than many homes on its street, which were built around 1945 on average. Second, the lot is meaningfully larger than most in the Jefferson area, offering more outdoor space than typical for the neighborhood.

5. Where can I find the exact historical sale prices?
The exact sold prices are not publicly displayed in the listing data. You can request them directly via the "Get exact sold price history" email option provided on the property detail page.