1023 Southwood Avenue

Property Summary: 1023 Southwood Avenue

Key Characteristics & Appeal

This is a well-situated, one-storey home in Beaumont, built in 1971 on a generous, nearly 4,000 sqft lot. Its primary appeal lies in a combination of space, location, and recent investment. The renovated basement adds valuable living area to the 884 sqft main floor, creating a practical layout. The detached garage offers flexibility for parking, storage, or workshop space.

The home’s standout feature is its strong positional metrics within a mature neighbourhood. It ranks in the top tiers for lot size, living area, and assessed value relative to its immediate street and surrounding area, suggesting it occupies a desirable spot in the community. It last sold in late 2023, indicating a recent market valuation.

This property would suit first-time buyers or downsizers seeking a manageable single-level layout with room to grow or host family in the finished basement. It’s also a sensible choice for a value-oriented buyer who prioritizes a larger lot in an established area over a newer home, and who appreciates that recent renovations (the basement) and a recent sale provide some modern comfort and clear market context.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings compare this property against specific groups (its street, neighbourhood, and all of Winnipeg) for metrics like lot size. For example, ranking in the "Top 13%" for lot size on its street means 87% of homes on Southwood Avenue have smaller lots. It’s a useful tool for understanding how this home stacks up in key areas.

2. The home sold recently in 2023. What should I consider?
A sale just over a year ago provides a very current benchmark for its market value. It’s important to understand what changes, if any, have been made since that sale, and to consider current market conditions which may differ from late 2023.

3. How does the assessed value relate to the likely selling price?
The municipal assessed value ($33.9k) is for taxation purposes and is typically far below market value. The 2023 sale price of $380k is the relevant figure for understanding its recent market worth.

4. Is the living space sufficient for a small family?
With 884 sqft on the main floor plus a renovated basement, the total usable space is quite flexible. A small family could make good use of it, especially with the basement providing a potential playroom, guest space, or home office. The large lot is a significant asset for outdoor space.

5. What are the less obvious pros and cons of a home from this era?
Homes from the early 1970s often feature solid construction and simpler, more modifiable layouts. However, prospective buyers should be mindful of the age of major systems (like plumbing, electrical, and the roof) which may be nearing or past their typical lifespan, even if the basement itself has been recently updated.