Property Overview
51 Barrington Avenue is a well-situated home in Winnipeg's Norberry neighbourhood, presenting a practical and value-conscious opportunity. Built in 1971, it is a newer construction compared to many homes on its street and in the immediate area. With 1,002 square feet of living space and a 4,651 sqft lot, the home offers compact, manageable dimensions. Its assessed value of $338,000 positions it as an affordable entry point within the city, sitting below the average value for its own street but aligning closely with the Norberry area average.
The appeal here lies in its balance and efficiency. For its price, you secure a home that is notably younger than its neighbours, which can suggest updated infrastructure or less immediate need for major repairs common in older builds. While the living space and lot size are modest, they translate to lower maintenance and utility costs—a significant long-term consideration. This property would suit first-time buyers seeking a foothold in a stable neighbourhood, downsizers looking to simplify without leaving the community, or pragmatic investors interested in a property with a realistic valuation and steady rental demand.
Frequently Asked Questions
How does the 1971 build year compare, and why does it matter?
This home is newer than most on its street and in Norberry, where many homes were built in the early 1960s. A newer build can often mean more modern electrical systems, plumbing, and insulation, potentially reducing immediate upgrade costs.
Is the assessed value a good indicator of the likely selling price?
The assessed value ($338k) is for municipal tax purposes and is a starting point. Market conditions ultimately set the price. Notably, its assessment is below the street average but on par with the neighbourhood, suggesting it may be priced fairly within the local context.
The lot size is below area averages. Is that a major drawback?
The lot is smaller than many in Norberry, which limits expansive outdoor projects but also means less yard work and lower landscaping costs. It represents a efficient use of space for those prioritizing indoor living and minimal upkeep.
What does the sold price data from 2020 tell us?
The home sold for between $300k-$350k in late 2020. This provides a historical benchmark, but Winnipeg's market has shifted since then. The current assessed value suggests a moderate increase in valuation over that period.
Who would this home not be ideal for?
It may not suit buyers needing extensive space for a growing family or those desiring a large garden or outdoor entertainment area. The compact living area requires efficient use of space and may feel cramped for some.