Property Overview: 723 Simpson Avenue, Winnipeg
Key Characteristics & Appeal
This home on Simpson Avenue in Munroe East presents a practical opportunity with distinct neighborhood advantages. Built in 1957, it is a mature property on a notably generous 5,746 sqft lot, which ranks well above average for both the street and the local area. The living space of 963 sqft is typical for similar homes nearby but is more compact compared to the Winnipeg city average. Its assessed value is strong relative to its immediate peers, ranking in the top 20% on its street, suggesting it is viewed favorably within its specific market context.
The primary appeal lies in its land value and established location. The large lot offers potential for outdoor space, gardening, or future expansion, which is a significant asset in a mature neighborhood. It would suit a first-time buyer or an investor looking for a solid entry point into a stable area, where the value is anchored more in the property's footprint and location than in the size or newness of the home itself. A thoughtful perspective is that this property represents the "bones" of the neighborhood—it holds its value well among direct comparables, offering a chance to own a character home with room to breathe, albeit likely requiring updates to match modern living standards.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold between $250k-$300k in 2021. Its current assessed value of $32.5k is strong for the street and area, but it's important to note that assessed value for tax purposes is different from market value. You can request the exact historical sale price via email for a clearer picture.
2. Is the house smaller than average?
Yes, but context matters. At 963 sqft, the living area is around average for Munroe East and Simpson Avenue itself, but below the city-wide average. This indicates the home is typical for its specific, established neighborhood.
3. What does the large lot size mean for me?
With a lot size ranking in the top 17% for Munroe East, you have significantly more outdoor space than many neighbors. This allows for larger yards, gardens, or sheds, and can be a key value-driver for future appreciation or renovation potential.
4. The home was built in 1957. What should I consider?
As a home nearing 70 years old, prospective buyers should budget for potential updates to major systems like plumbing, electrical, and the roof. A thorough inspection is essential to understand the condition and any needed maintenance.
5. How can I see how this property compares to its immediate neighbors?
You can open the dedicated neighborhood analysis page to view this property on a map alongside nearby homes, comparing details like year built, lot size, and assessed value directly.