Property Overview: 1018 Southwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Beaumont sits on a generous, nearly 5,000 sqft lot, offering more outdoor space than most properties on its street and in the wider neighbourhood. Its key appeal lies in this desirable land-to-building ratio, providing room for gardens, play, or expansion. The home itself is modest in size at 747 sqft, but features a renovated basement, adding valuable functional living space. A detached garage completes the practical offering.
The property suits first-time buyers or downsizers looking for a solid, low-maintenance footprint in an established area, with the potential to customize the main floor over time. Its strong lot size is a long-term asset in a city where land is at a premium. A thoughtful perspective for buyers is the home’s assessed value stability; it ranks consistently above average for its immediate area, suggesting it’s viewed as a solid asset within its peer group. The 2019 sale price was notably close to the current assessed value, indicating a history of realistic valuation rather than speculative pricing.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 747 sqft, the main floor is compact. However, the renovated basement significantly expands the usable living area, making the overall footprint more practical for daily life.
2. How does the age of the home (1956) affect it?
While the home is 70 years old, the renovated basement indicates updates have been made. Buyers should budget for ongoing maintenance typical of a vintage home and consider an inspection focused on major systems and the foundation.
3. What is the significance of the lot size?
The lot is a standout feature, larger than 85% of those on the street. This provides rare outdoor space for the area and is often the most valuable, irreplaceable aspect of an older property.
4. How does the assessed value compare to likely selling price?
The assessed value is a municipal tax tool, not a market appraisal. Notably, the last sold price in 2019 was close to today’s assessment, but the current market will ultimately determine value. Recent sales of comparable homes are the best guide.
5. What is the neighbourhood like for investment or living?
Beaumont is an established, mature neighbourhood. The property ranks in the top third for assessed value within the area, suggesting it’s in a relatively stable and desirable section. It offers a classic Winnipeg community feel with the convenience of older, central neighbourhoods.