Property Summary: 225 Seaforth Avenue, Winnipeg
Section 1: Overview & Appeal
This 672 sqft bungalow, built in 1971, sits on a 3,461 sqft lot in Margaret Park. Its key characteristic is balance: it is consistently an average-to-above-average property within its immediate street context, offering stability in a well-established neighbourhood. The home’s appeal lies in its manageability and value proposition. With a living area and assessed value that are typical for Seaforth Avenue, it represents a practical entry point into the area without the premium often attached to larger or newer homes. The lot size, while smaller than many in the wider city, is standard for the street, offering a low-maintenance yard.
This property would suit first-time buyers or downsizers seeking a straightforward, no-surprises home in a mature neighbourhood. It’s also a sensible fit for an investor looking for a stable rental property, given its consistent valuation history and recent resale activity in 2019 and 2022. A less obvious perspective is that its 1971 build date is notably newer than many homes in Margaret Park, potentially meaning fewer immediate concerns with aging infrastructure compared to neighbourhood averages.
Section 2: Frequently Asked Questions
1. How does this home compare to others in the area?
Within its immediate block on Seaforth Avenue, this home is very typical in terms of size, value, and lot. Compared to the broader Margaret Park neighbourhood and Winnipeg overall, it sits below average for living space and lot size, which is reflected in its accessible price point.
2. What is the likely property tax based on the assessed value?
With an assessed value of $23,800, the municipal property taxes would be relatively low. You can calculate an estimate by applying the City of Winnipeg’s current mill rate to this assessment.
3. The home sold in 2019 and again in 2022. What does this indicate?
The recent turnover suggests the property is seen as a liquid asset in the market. It doesn’t inherently indicate a problem; rather, it may reflect its appeal as a starter home or a well-priced investment property that changes hands more frequently.
4. Is the smaller living area a concern?
At 672 sqft, the home is compact. It suits a lifestyle that prioritizes simplicity, lower utility costs, and minimal upkeep. It may not be ideal for those needing multiple dedicated rooms or significant storage space, but it is efficient.
5. Why is the city-wide assessed value average so much higher?
The city-wide average (shown as ~$390k) includes all property types and sizes across Winnipeg. This home’s assessment is appropriately lower due to its smaller size and specific location, making it a more affordable option within the broader market.