1238 Devonshire Drive W

Property Overview: 1238 Devonshire Drive W, Winnipeg

Section 1: Key Characteristics & Appeal

This home is defined by its efficiency and affordability within the Meadows neighborhood. Built in 1988, its key characteristic is a compact 680 sqft living area, which is notably smaller than most homes in the broader area and city. This results in a very modest municipal assessed value of $32,900, which is around average for its immediate street but below average for the Meadows community.

The primary appeal lies in its potential as a low-cost entry point into the Winnipeg housing market. It suits buyers with minimal space needs, such as first-time purchasers seeking to build equity, investors looking for a rental property with a lower entry cost, or downsizers wanting to reduce expenses and maintenance. The lot size of 3,551 sqft is fairly standard for the street, offering adequate outdoor space relative to the home's footprint.

A less obvious perspective is its relative modernity; compared to the city-wide average home built in 1966, this property is 22 years newer, suggesting potentially fewer issues with aging infrastructure. Its last two recorded sales (2016 and 2020) were in the $250k-$300k range, indicating its market price significantly exceeds its assessed value, a point for buyers to investigate further.

Section 2: Frequently Asked Questions

1. Why is the living area so much smaller than the average home?
This is a compact, likely one-story or bungalow-style home, built during a period where smaller, efficient floor plans were common in certain developments. It prioritizes function over size.

2. How can the assessed value be so low compared to recent sold prices?
Municipal assessed value for property tax purposes is not the same as market value. It is based on a mass appraisal system and can lag behind current market conditions. The sold price history reflects what buyers were actually willing to pay.

3. What does the "Top 97%" ranking for living area mean?
This statistic means that 97% of homes in the city have a larger living area. It confirms this is one of the smaller homes by square footage in Winnipeg, which directly influences its affordability.

4. Is the smaller size a disadvantage for resale?
It can be a limiting factor for growing families but a consistent advantage for a specific market segment seeking lower-priced, low-maintenance homes. Its appeal is niche but steady.

5. How do I find out the exact historical sold prices?
The exact sale prices are not publicly displayed in detail due to data licensing. As noted on the listing, you can request the precise figures by emailing the site administrators, who provide the information manually.