Property Overview
This 2002-built bi-level at 1575 Leila Avenue presents a practical and value-conscious opportunity in Winnipeg's Amber Trails neighbourhood. Its key appeal lies in a balance of recent updates, a generous lot size, and a price point accessible to first-time buyers or downsizers. The home features 800 sqft of living space and a renovated basement, sitting on a lot that ranks in the top 4% for size on its street. While the living area is compact, the property’s overall assessed value has shown stability, and its lot offers potential for expansion or outdoor enjoyment. It suits buyers prioritizing a solid foundation in a quiet area over sheer square footage, and who see value in a home that’s newer than many in the wider area but priced below typical new construction.
Key Characteristics & Suitability
- The Appeal: The primary draws are the renovated basement, which adds functional space, and the notably large, flat lot (3,486 sqft) for the area—a relative rarity that provides privacy, play space, or gardening potential. As a bi-level, it offers a clear separation between living and sleeping areas. Its 2002 build date means major components are likely younger than those in many neighbouring properties, potentially reducing near-term repair costs.
- Buyer Profile: This property is an ideal fit for first-time homebuyers entering the market with a manageable footprint, or for empty-nesters looking to downsize from a larger house without sacrificing yard space. It would also suit an investor or handy buyer who appreciates the value of the lot and the already-completed basement renovation, viewing the compact main floor as a canvas for efficient, modern open-concept living.
Frequently Asked Questions
1. How does the living space compare to nearby homes?
At 800 sqft, the above-ground living area is compact and ranks lower than most in the immediate neighbourhood. However, the renovated basement significantly adds to the usable space. The overall property value is supported more by its lot size and recent updates than by its square footage.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the quality of finishes, the inclusion of permits, and whether it adds legal living space or is primarily a finished recreational area.
3. The home sold for $300k in 2020 and is now assessed at $340k. What does this mean?
The assessed value is the city's valuation for tax purposes, which can differ from market value. The increase suggests the property has kept pace with area trends, likely influenced by the basement renovation and general market movement. The current asking price will be the true indicator of market value.
4. There is no garage. Is adding one feasible?
The large lot size is a major advantage here, making the addition of a garage or carport a realistic future possibility, subject to local zoning bylaws and setback requirements. This is a key point of value for buyers who require vehicle storage.
5. The home ranks highly for lot size but lower for living area. What's the trade-off?
This is the central balance of this property. You are acquiring a premium-sized lot in a established neighbourhood, which offers long-term value and utility, but within a modestly sized home. It appeals to those who prioritize outdoor space and future potential over immediate interior square footage.