Property Overview: 1005 Southwood Avenue, Winnipeg
Key Characteristics & Appeal
This 2018-built bi-level home on a generous lot offers modern efficiency in a well-established Beaumont neighbourhood. Its primary appeal lies in being a relatively new construction (only 8 years old) within a mature area, providing a balance of contemporary living without the premium of a brand-new subdivision. The home features a renovated basement, adding valuable finished space to the 1,042 sqft living area.
The property stands out for its land size, with a lot ranking in the top 8% on its street and the top 1% within the broader neighbourhood, offering ample outdoor potential. Recent sale history shows strong appreciation, with the 2024 sale price significantly above its 2021 purchase price and current assessed value. This home would suit first-time buyers or downsizers seeking a low-maintenance, modern home on a sizable lot, as well as value-oriented buyers who recognize the advantage of a newer build in an older, stable area where land is at a premium. The lack of a garage may be a trade-off for the lot size and newer build, positioning it for buyers who prioritize outdoor space or see potential for future addition.
Frequently Asked Questions
1. How does the property’s value compare to the area?
The home recently sold for well above its city-assessed value, which is common for newer homes in high-demand neighbourhoods. Its last sale price placed it in the top 20-30% for recent sales on its street and in Winnipeg, indicating a strong market perception.
2. What does the "renovated basement" include?
The listing confirms the basement is finished but does not specify the details. This would be a key point to clarify with the seller or listing agent regarding the scope, quality, and permitted status of the renovations.
3. Is the lack of a garage a significant concern?
This depends on buyer needs. The large lot (2,486 sqft) offers potential for adding a garage or carport, subject to local bylaws. For some, the trade-off for a newer home on a large lot outweighs the immediate lack of covered parking.
4. How does this 2018 build compare to neighbouring homes?
This home is notably newer than most in the area, as evidenced by its "top 93%" ranking for year built on its street. This typically means advantages like modern building codes, materials, and systems, but it may have a different architectural character than its older neighbours.
5. What is the neighbourhood character like?
Beaumont is an established neighbourhood. The nearby reference property on Waterford Avenue was built in 1948, indicating a mix of eras. The high land rank suggests lots are generally smaller in the area, making this property's lot size a relative standout for its newer vintage.