Property Overview
1029 Clarence Avenue is a well-maintained, 1,056 sqft bungalow built in 1992, situated in Winnipeg's Maybank neighbourhood. Its primary appeal lies in its modern construction relative to the area, offering a move-in-ready home that avoids the major maintenance concerns often associated with older properties. The home presents a practical, low-maintenance lifestyle on a manageable 3,277 sqft lot.
Key Characteristics & Ideal Buyer
This home stands out in its immediate area for being newer and having a higher assessed value than many of its neighbours, suggesting above-average quality and updates. While the living space is typical for the city, the lot size is notably smaller than area averages, which translates to less yard upkeep—a significant perk for some, but a limitation for others. Its strongest suit is its balanced positioning: it’s not the largest property, but it is a contemporary, solid-value home in a mature neighbourhood.
It would best suit first-time buyers, downsizers, or pragmatic investors seeking a modernized home without a premium price tag. It’s ideal for those who prioritize interior condition and efficient living space over extensive outdoor space. The property offers a sensible entry into a stable community without the surprises that can come with much older builds.
Frequently Asked Questions
1. How does the smaller lot size impact the property?
While the yard is more compact than many in Winnipeg, it significantly reduces maintenance time and costs. This is often seen as a benefit for busy professionals or those looking to downsize, though it may not suit gardeners or families wanting extensive play space.
2. The home sold between $350k-$400k in 2022. What does its current $400k assessment suggest?
The assessed value aligning with the top end of its last sale price indicates the market and city assessors see its value as stable or appreciating slightly. It suggests the home was likely updated or well-cared for, and wasn't purchased as a "fixer-upper."
3. Being built in 1992, are there any major component concerns?
A home from this era is typically past the initial shakedown period of any original defects but is now entering the phase where major components like the roof, windows, or HVAC system may need evaluation or planned replacement. A thorough inspection is advised to budget for these lifecycle items.
4. What does it mean that its value ranks "above average" for the street but "around average" citywide?
This highlights the character of Maybank. You're acquiring a home that stands out positively on its own street, which can be good for pride of ownership and resale within the micro-market. The citywide average comparison simply reflects that you are looking at a solidly mid-market property overall, not an outlier.
5. Who should request the exact sold price history?
If you are seriously considering making an offer, obtaining the exact sale price from 2022 is crucial. It provides the clearest benchmark for what the market actually paid for this specific home, allowing for a more informed offer that accounts for market changes since then.