Property Overview: 532 Springfield Road, Winnipeg
Key Characteristics & Appeal
This home at 532 Springfield Road in the Rossmere-A neighborhood presents a compelling mix of above-average metrics and solid value. Built in 1989, it is notably newer than most homes in its immediate area, offering modern advantages in construction and systems. With 1,096 sqft of living space, it is comfortably sized, ranking above the street average. The lot size of 6,294 sqft is a significant standout, placing it in the top 5% on Springfield Road, providing ample outdoor space that is increasingly rare.
The primary appeal lies in its strong assessed value of $409k, which ranks in the elite tier (top 4%) for its street and above average for the neighborhood. This suggests the property is perceived as a premium offering on its block, likely due to its combination of a newer build, generous lot, and good square footage. It last sold in late 2020 for an estimated $350k–$400k, indicating steady appreciation.
This property would suit practical buyers looking for a well-established, mature neighborhood home without the common concerns of much older infrastructure. It’s ideal for someone who values a larger yard for family, gardening, or pets, and who appreciates a home that stands out favorably in direct comparison to its immediate neighbors in terms of value and modernity.
Frequently Asked Questions
1. Why is the assessed value so much higher than the street average?
The assessed value of $409k is significantly higher than the street average of ~$322k. This is likely due to the property's combination of a larger lot, newer construction date (1989 vs. a street average of 1981), and above-average living area, making it a premium offering on this specific block.
2. How does the property compare to the wider city market?
Citywide, this home is around average for assessed value and living area. Its appeal is more localized; it offers above-average or elite features for its specific street and neighborhood, representing a strong position in its immediate market rather than standing out across all of Winnipeg.
3. What does the lot size ranking mean for me?
Ranking in the top 5% for lot size on the street means you're getting more outdoor space than most homes directly around you. This offers greater privacy, expansion potential, and room for outdoor activities compared to the typical property on Springfield Road.
4. The home was built in 1989. What are the implications?
A 1989 build is newer than most in Rossmere-A (neighborhood average year built is 1964). This typically suggests updated electrical wiring, plumbing, and insulation standards compared to mid-century homes, potentially reducing immediate renovation needs and improving energy efficiency.
5. Who would this property not suit?
It may not suit buyers seeking a very large interior, as the living space is closer to the city average, or those whose budget is strictly at the neighborhood's average price point. It's also not a "fixer-upper" opportunity, as its premium valuation reflects a move-in-ready condition for the area.