Property Overview: 143 Summerfield Way, River East, Winnipeg
Key Characteristics & Appeal
This 1,200 sqft bungalow, built in 1973, presents a compelling value proposition in Winnipeg's River East neighborhood. Its primary appeal lies in its efficient use of space and its position on a street of similar, well-established homes. While the living area is above average for Summerfield Way, the property's assessed value is notably below averages for the street, neighborhood, and city. This suggests a potential value opportunity for a buyer comfortable with a home that may require updates or investment.
The lot is compact at 3,003 sqft, which translates to lower maintenance—a significant plus for downsizers or those seeking a simpler yard. The home would suit first-time buyers entering a mature neighborhood at a relatively accessible point, or practical investors looking for a rental property with a reasonable tax assessment. It's less suited for those prioritizing large outdoor space or expecting a move-in-ready home at the very top of the market.
A thoughtful perspective is that this home exists in a sweet spot of "street credibility." It's one of the newer homes on its specific block, yet its value and lot size are modest compared to the wider area. This indicates a well-kept, stable immediate environment without the premium price tag of larger River East properties, offering a sense of community without the associated overhead.
Frequently Asked Questions
1. Is this a good value compared to other homes on the street?
The data suggests it might be. The home's assessed value is below the street average ($262k vs. $305k average), while its living area is above the street average (1,200 sqft vs. 966 sqft average). This discrepancy can sometimes indicate a value opportunity.
2. What does the below-average lot size mean for me?
The 3,003 sqft lot is smaller than most in River East. This is a advantage if you prefer minimal yard work and lower maintenance costs. However, it limits potential for large additions, pools, or extensive landscaping.
3. The home was last sold in 2017. Can I find out the exact sale price?
The public data shows a sold price range of CA$200k–250k for that transaction. To obtain the exact historical sale figure, you must request a manual lookup from the site via email, as they do not display MLS records directly.
4. How does the 1973 build year compare?
On Summerfield Way, 1973 is actually newer than the average, ranking in the top 1%. This is a positive for the immediate micro-area. Compared to the broader city, it's around average, so major components like the roof or furnace may be due for inspection or replacement based on their specific condition.
5. Are the sold prices of nearby "reference" properties a good guide for this home's value?
They are helpful context, but direct comparison is difficult. The listed reference properties vary greatly in size, value, and lot. For example, nearby homes on the same street have both smaller and larger living areas, with assessed values ranging from $261k to $362k. A proper valuation requires a detailed, condition-based comparison.