Property Overview: 875 Simpson Avenue, Winnipeg
Key Characteristics & Appeal
This 948 sqft bungalow, built in 1959, sits on a notably generous 5,745 sqft lot in Munroe East. Its primary appeal lies in a combination of solid value and desirable lot size. While the living space is modest and slightly below the city average, the property stands out for its above-average assessed value within its immediate neighborhood and area, suggesting it is well-maintained or has desirable features not captured by square footage alone. The large lot is a significant asset, offering ample outdoor space and potential for gardening, expansion, or simply more privacy than typical area properties.
This home would best suit first-time buyers or downsizers looking for a manageable footprint without sacrificing yard space. It’s also a practical option for value-oriented investors or buyers who prioritize the long-term potential of a large lot over immediate square footage. A thoughtful perspective is that this property represents a "land-forward" opportunity in a mature neighborhood—the value is anchored as much in the outdoor space as in the home itself, which could be adapted over time.
Frequently Asked Questions
1. How does the sold price compare to the assessed value?
The home sold for an estimated $400k-$450k in 2024, which is significantly higher than its $33,500 assessed value. This is common, as assessed values for tax purposes often lag behind current market values.
2. Is the living area suitable for a small family?
At 948 sqft, the living area is compact. It would be most comfortable for individuals, couples, or a very small family. The large lot, however, provides valuable extra space for children to play or for adding a deck or patio to extend living areas outdoors.
3. What does the "above-average" assessed value ranking mean?
Ranking in the top 12-13% for assessed value on its street and in Munroe East indicates this property is assessed higher than most of its direct neighbors. This often reflects updates, a premium lot location, or features that add value relative to other homes of similar size and age in the area.
4. What are the implications of the home being built in 1959?
As a home from the late 1950s, buyers should budget for potential updates to major aging components like the roof, windows, plumbing, or electrical systems. A thorough inspection is essential. On the positive side, homes of this era often feature simpler, sturdy construction and larger lots compared to newer builds.
5. How can I get the exact historical sold price?
The exact sold price is not published publicly. You can request it directly via the provided email form on the listing page. The service is manual, with a promise of a reply by the end of the same day and no unsolicited marketing use of your email.