Property Overview: 471 Summerlands Boulevard
Key Characteristics & Appeal
This is a compact, one-storey home built in 1961, situated on a generously sized lot in Winnipeg's Kirkfield neighbourhood. With 960 square feet of living space, the house is notably smaller than most comparable homes in the area, city, and even on its own street. It features a detached garage and a basement that is present but not renovated. The assessed value is significantly below average for its surroundings, suggesting it may be priced accessibly relative to the local market.
The primary appeal lies in its land. The lot is over 6,300 square feet, which is above average citywide, offering ample outdoor space for gardening, recreation, or future expansion in a mature neighbourhood. Its value proposition is straightforward: you are purchasing a substantial plot with a modest, functional home. This setup is ideal for a first-time buyer, an investor, or a hands-on homeowner comfortable with a property that has clear potential. It suits someone who prioritizes land size and location over move-in-ready finishes, viewing the home itself as a canvas for gradual updates or a long-term hold in a stable community.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average for comparable homes?
Assessed value is for municipal tax purposes and is influenced by many factors, including the home's size, condition, and specific features. This home's below-average living area and unrenovated state likely contribute to its lower assessment compared to the broader city market.
2. Is the smaller living area a major drawback?
It depends on your needs. For a smaller household or a buyer seeking lower utility and maintenance costs, the size can be an efficiency advantage. However, it is objectively smaller than most homes in Kirkfield, so growing families or those needing more indoor space should consider their long-term requirements.
3. What does "basement not renovated" typically mean?
This usually indicates the basement is in a functional but basic condition, likely with unfinished or dated finishes. It presents an opportunity to customize the space to your needs but will require an investment for modernization.
4. How does the lot size benefit me if the house is small?
The large lot provides valuable flexibility. It offers private outdoor space that is harder to find in newer developments, room for additions like a shed or deck, and potential for landscaping projects. For some, this outdoor "room" can effectively extend the living area.
5. The home last sold in 2020. What should I consider?
A sale within the last five years suggests the current market price will be closely tied to recent market shifts. It’s important to understand why the owners are selling now and to investigate if any updates were made during their ownership, as the home’s condition may be largely unchanged since the last sale.