707 Simpson Avenue

Property Overview: 707 Simpson Avenue, Winnipeg

Key Characteristics & Appeal

This home presents a compelling opportunity centered on its generous lot. Built in 1957, the 963 sqft house sits on a 5,746 sqft parcel, a lot size that ranks well above average for both its immediate street and the broader Munroe East area. This creates immediate value for buyers interested in outdoor space, gardening, or future expansion. The living area and assessed value are consistently around the local average, suggesting a home that fits comfortably within its established neighbourhood context without extreme outliers.

Its primary appeal lies in this land-to-building ratio. For the price of a standard-sized home, you secure a larger-than-standard yard. It suits first-time buyers or downsizers looking for a manageable house with room to breathe outdoors, as well as long-term investors who see potential in the land itself. The sales history shows steady appreciation, with the 2021 sale placing in the top 20-21% for the area, indicating strong local demand. A thoughtful perspective is that while the home is older, its "below average" age rank on the street means many neighbouring houses are newer, potentially signalling a well-maintained and enduring property amidst renewed investment in the area.

Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value (listed as $29.40k) is for municipal tax purposes. The market value is what a buyer would pay today, which is better indicated by the recent sold price ranges (e.g., $300k-$350k in 2021).

2. How does the lot size compare to typical city lots?
At 5,746 sqft, the lot is around average city-wide but is notably larger than most in Munroe East. On its own street, it ranks in the top 24%, meaning only 41 of 172 comparable properties have a larger land area.

3. What does the sold price history tell us?
The home sold in 2019 for an estimated $250k-$300k and again in 2021 for $300k-$350k. This upward movement, coupled with the 2021 sale price ranking in the top fifth of the area, suggests a trend of solid value growth in this location.

4. The house is older. Should I be concerned?
Built in 1957, it is older than many on its street. This necessitates a thorough inspection to understand the condition of major systems (roof, wiring, plumbing). However, its age is around the city-wide average, and many homes of this era were built with durable materials.

5. How can I get the exact sold prices?
The precise sale figures are not publicly displayed. You can request them by email via the "Get exact sold price history" button on the listing page. The service is manual, with a promised reply by the end of the same business day, and your email is not used for marketing.