Property Overview: 58 Balsam Place, Norwood West, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 58 Balsam Place is a classic post-war bungalow, built in 1950, situated on a generous 5,495 sqft lot in the established Norwood West neighborhood. With 1,375 sqft of living space and a city-assessed value of $410k, it presents as a solid, middle-of-the-market property. Its appeal lies in its balance and context. While its size and value are average compared to the broader city and local area, it stands out on its own street for having a newer build year (ranking in the top 7%) and an above-average lot size (top 26%). This suggests a home that may have seen updates over time and offers more outdoor space than many of its immediate neighbors.
The property would suit a practical buyer looking for a character home in a mature neighborhood without the premium price tag of a fully renovated or newer build. It’s a candidate for someone comfortable with a home of this era, possibly seeking a balance of indoor space and a sizable yard for gardening or family use. The recent sale in mid-2023 (for an estimated $400k-$450k) indicates it’s a turn-key property, likely appealing to first-time buyers, downsizers, or investors seeking a stable rental in a central location.
Section 2: Frequently Asked Questions
1. How does this home compare to others on the street?
Compared to other homes on Balsam Place, this property is newer than most (built in 1950 vs. a street average of 1951) and sits on a larger-than-average lot. Its living area and assessed value are very close to the street's typical figures.
2. Is the assessed value a reliable indicator of the market price?
The $410k assessed value is for municipal tax purposes. The home sold for an estimated $400k-$450k in July 2023, which aligns closely with this assessment and the average values for Norwood West, suggesting it is a reasonable benchmark.
3. What does the "Elite" ranking for year built in Norwood West mean?
This indicates that, within the Norwood West area, this home is among the newest 5% of comparable properties. The neighborhood has many older homes, so a 1950 build date is relatively recent in that specific context.
4. How can I find out the exact sold price from 2023?
The exact sold price is not publicly displayed due to industry rules. You can request the full transaction history and exact figure by emailing the site via the "Request exact figures by email" button, and they will provide it manually.
5. What are the implications of a 76-year-old home?
A home from 1950 will have the character and solid construction of its era but may also have aging components like the roof, plumbing, or electrical systems. Its "newer" status relative to the neighborhood is positive, but a thorough inspection is always recommended to understand the condition and any potential update needs.