Property Overview: 1042 Clarence Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling mix of modern convenience and established neighbourhood character. Built in 2001, it is notably newer than most homes on its street and in the wider Maybank area, suggesting updated building systems and less immediate need for major renovations. With 870 sqft of living space, it is a compact and efficient layout, well-suited for individuals, couples, or small families seeking manageable upkeep.
The primary appeal lies in its strong assessed value of $410k, which ranks well above average for both the immediate area and the neighbourhood. This indicates a property that holds its value robustly in its market context. The lot, while smaller than some comparables at 4,040 sqft, offers a low-maintenance yard. This property would ideally suit first-time buyers or downsizers looking for a modern, move-in-ready home in a mature neighbourhood without the premium often attached to brand-new constructions. It’s a practical choice for those who prioritize financial prudence and newer infrastructure over maximizing square footage.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 870 sqft, the home is cozier than the average house in Winnipeg. However, its efficient 2001 build likely offers a modern, open floor plan that maximizes usable space, making it feel larger than the number suggests. It’s ideal for those who value easier cleaning and lower utility costs.
2. Why is the assessed value so high relative to the home's size?
The above-average assessment ($410k) reflects the premium for a newer construction (2001) in an area of mostly older homes. Assessors value the modern components (roof, wiring, plumbing) that reduce near-term repair costs for the owner, solidifying the property's investment stability.
3. What does the sold price history tell us?
The home sold between $350k-$400k in 2022. This sale in a higher interest rate environment, close to the current assessed value, suggests a stable market perception and may indicate a realistic current valuation, not an inflated one.
4. How does the smaller lot size impact the property?
The 4,040 sqft lot is below average in size, which means less yard maintenance—a benefit for busy professionals or those not seeking extensive gardening. It does, however, limit potential for large additions or sprawling outdoor living spaces.
5. Who are the typical neighbours?
The nearby comparable properties range from older, post-war homes to other newer builds like a 2015 construction a few doors down. This mix suggests a neighbourhood in a gradual state of renewal, appealing to those comfortable with a blend of established and updated streetscapes.