Property Overview: 1017 Southwood Avenue
Key Characteristics & Appeal
This well-situated two-storey home in Beaumont presents a solid opportunity in a desirable location. Built in 1969, its primary appeal lies in its strong positional metrics: the lot is notably larger than most in the area (top 11% on its street), and the neighbourhood itself ranks highly within Winnipeg. A recently renovated basement adds modern, functional living space. The home is complemented by a detached garage.
Its value proposition is clear from its sales history, having sold for a premium price relative to nearby properties just last year. This suggests a home that has been updated and maintained to a standard that buyers have recently validated. The appeal is one of location and established value rather than sheer size, as the living area is comfortably average for the area.
This property would suit a practical buyer who prioritizes a prime lot in a top-tier neighbourhood over a brand-new build. It’s ideal for someone looking for a move-in-ready home with recent updates (like the basement) in a mature, well-regarded community, without the premium or unpredictability of a new development.
Frequently Asked Questions
1. How does the recent sale price compare to the current assessed value?
The home sold for $24.50k in February 2020, which was significantly higher than its current assessed value of $27.60k. This recent sale at a strong price is a key data point, indicating the market has previously valued this specific property above its official assessment.
2. Is the lot size a major advantage?
Yes. At nearly 3,000 sqft, the land area ranks in the top 11% on its own street and top 7% in the wider Beaumont neighbourhood. This offers more outdoor space than many comparable properties, which is a valuable and permanent asset.
3. What does the "renovated basement" typically imply for a home of this era?
For a 1969 home, a renovated basement often addresses foundational improvements like moisture control and insulation, while modernizing the living space. It effectively adds usable square footage, which is a smart update in a neighbourhood where lot size is often more fixed than home size.
4. The home is 57 years old. What should I consider?
While the renovated basement is a plus, a buyer should focus inspections on core systems consistent with the age: the roof, original plumbing and electrical, and the foundation. The detached garage is also likely original, so its condition should be verified.
5. How does this street compare to the broader neighbourhood?
The data shows a interesting contrast: while the neighbourhood ranks highly overall, this specific street has a mix of newer and older homes. This property's lot is large for the street, but the home itself is older than about 75% of its immediate neighbours. This can mean a more varied streetscape but also potential for future renewal.