Property Overview: 47 Sunway Avenue, Winnipeg
Key Characteristics & Appeal
This home at 47 Sunway Avenue in the Meadows neighbourhood presents a practical and value-oriented opportunity. Built in 1987, it is newer than most homes on its street and across the city, suggesting potentially fewer immediate concerns with aging infrastructure compared to older stock. With 895 square feet of living space, it offers a compact, manageable layout that is fairly typical for Sunway Avenue but is below the average size for both the Meadows area and Winnipeg overall.
The property’s appeal lies in its balance of a newer build year and a modest assessed value. The lot size of 4,000 sq ft is above average for the street, offering decent outdoor space relative to its immediate peers. This combination positions it as an efficient entry point into homeownership. It would suit first-time buyers or downsizers seeking a lower-maintenance property without the premium of a recently built home. A thoughtful perspective is that its "below-average" metrics in size and value for the wider area are precisely what create its affordability, making it a strategic pick for budget-conscious buyers who prioritize a newer construction year over square footage.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value (approximately $321,000) is for municipal tax purposes. The market value—what a buyer would pay—is determined by current market conditions and can be higher or lower.
2. How does the home’s size compare to nearby houses?
At 895 sq ft, the living area is slightly below the average (969 sq ft) for Sunway Avenue itself and more notably below the average for the larger Meadows neighbourhood. This indicates a cozier, more efficient floor plan.
3. What does the sold price history indicate?
Records show it last sold between $200,000-$250,000 in 2016. This historical data provides context, but the current market value will be influenced by factors and prices in the years since that sale.
4. The home is newer than many others. Does that mean fewer repairs?
While a 1987 build is newer than the city median, it is still nearly 40 years old. Major components like the roof, windows, and heating system may be reaching or have passed their typical lifespans, so a thorough inspection is recommended.
5. Who would this property not be well-suited for?
It may not suit buyers looking for ample indoor space or a large yard compared to broader neighbourhood standards. Families needing multiple bedrooms or dedicated work-from-home spaces might find the layout limiting.