Property Overview
This home at 132 Sanford Fleming Road in the Meadows neighborhood presents a distinct value profile shaped by its specific characteristics. Built in 1979, it offers 1,187 square feet of living space on a 3,249 square foot lot, with a current assessed value of $28,800.
Key Characteristics & Appeal
The primary appeal of this property lies in its efficient use of space and its position within its immediate locale. While its size is modest compared to broader city averages, it ranks in the top 3% for living area on its own street, indicating it is one of the larger homes in its direct peer group. This creates an interesting dynamic: it offers more interior room than most neighboring houses, yet carries a below-average assessed value for the wider Meadows area. This combination suggests potential value for a buyer who prioritizes interior space over lot size within a established neighborhood.
The lot size is smaller than most in the wider city and area, but is actually above average for Sanford Fleming Road itself. The home’s recent sale history shows significant appreciation between its 2019 and 2022 sales.
This property would likely suit a pragmatic first-time homebuyer or an investor looking for a relatively affordable entry into the Winnipeg market. It’s also a fit for those who value a well-sized home on a low-maintenance yard, and who are less concerned with having a property that ranks highly on city-wide metrics. The data suggests a buyer here is getting a competitively sized house for the street, potentially with room to add value in a neighborhood where property values are generally higher.
Frequently Asked Questions
1. Why is the assessed value so much lower than the previous sold price?
Assessed values in Manitoba are set for municipal tax purposes and often do not reflect current market value. The sold price from 2022 is a more accurate indicator of its market worth, while the low assessment could result in relatively lower property taxes.
2. How does the smaller lot size impact the property?
While the lot is smaller than the area and city averages, it is actually above average for the street. This typically means less exterior maintenance and lower landscaping costs, but may limit expansion possibilities or private outdoor space compared to other parts of the neighborhood.
3. The home sold for $200k-$250k in 2019 and $250k-$300k in 2022. What does this indicate?
This shows a clear appreciation in value over that three-year period. The exact increase is unknown without the precise figures, but the shift into a higher price bracket suggests strong market growth for this home during that time.
4. What does it mean that the living area is "Elite" for the street but only average for the area?
It highlights the importance of context. On its own block, this is one of the larger homes. When compared to the entire Meadows neighborhood, however, its size is typical. This can be an advantage if you want a spacious home relative to your immediate neighbors.
5. The home was built in 1979. What should I consider?
A home of this age is likely to have had major components like the roof, windows, or furnace updated. An inspection would be crucial to determine the condition of these elements and the electrical and plumbing systems, and to identify any need for modernization or repairs common to houses from this era.