Property Overview & Appeal
This 988 sqft bungalow at 14 Summerfield Way in Winnipeg's River East neighborhood presents a specific, value-oriented opportunity. Built in 1972, its key characteristic is its position as a solid, average-sized home on a street of similar properties, but with notable advantages in its immediate context. While its living space is below the broader neighborhood and city averages, it sits on a larger-than-average lot for the street (5,498 sqft) and carries an assessed value ($341k) that is above the street's average. This suggests the property may offer better relative outdoor space or perceived value within its own micro-market.
The appeal lies in its potential as a pragmatic entry point into a stable neighborhood. It suits first-time buyers or downsizers seeking a manageable home without a premium for excess square footage, where the value is anchored more in the land and location than in a large interior. A thoughtful perspective is that this home likely represents the "typical" standard for its specific street, making renovations or updates easier to gauge against direct comparables. It may also appeal to a buyer less concerned with being above city-wide averages and more focused on finding a balanced property within a cohesive, established local streetscape.
Frequently Asked Questions
1. Is the living area small for the neighborhood?
Yes, at 988 sqft, it is below the River East neighborhood average. However, it is very close to the average size for homes on Summerfield Way itself, indicating the street consists of similarly scaled homes.
2. Why is the assessed value above average for the street?
While the exact reasons for assessment aren't detailed, factors often include the home's condition, updates, and its larger-than-average lot size for the street, which can contribute to a higher valuation.
3. What does the sold price history indicate?
The home sold previously between $300k-$350k. This range places it in the top 27% of sold prices on its street, suggesting it has historically been perceived as a higher-value property within this specific local market.
4. How does the lot size compare?
The lot is a standout feature for the street, at 5,498 sqft, which is significantly larger than the street's average lot. This offers more outdoor space than many immediate neighbors, though it is smaller than the broader neighborhood average.
5. Are there many similar homes nearby for comparison?
Yes. The data shows numerous homes on Summerfield Way and nearby streets with very similar year-built, size, and value profiles, providing a clear picture of the local market for this type of property.