Property Overview: 1111 Fairfield Avenue
Key Characteristics & Appeal
This one-storey home at 1111 Fairfield Avenue in Winnipeg's Fairfield Park neighbourhood presents a specific and compelling value proposition. Built in 2008, it is a relatively modern home compared to most in the city, offering the appeal of newer construction systems and likely lower immediate maintenance needs. With 1,221 sqft of living space and an attached garage, it provides the essentials in a manageable, single-level layout. The basement exists but is noted as not renovated, representing a clear opportunity for future customization.
The primary appeal lies in its value positioning. The home's assessed value is notably low for the city overall, placing it well above average citywide. However, within its own desirable neighbourhood and street, it ranks below average for both size and assessed value. This creates a unique opportunity: it's an entry point into a well-established area, often at a more accessible price point than larger, renovated homes nearby. The lot size is standard for the city, providing adequate outdoor space without the burden of an excessively large yard.
This property would suit first-time buyers or downsizers seeking a modern, low-maintenance home in a prime neighbourhood without paying a premium for square footage. It’s also a strategic fit for value-oriented buyers or investors who see potential in the unfinished basement and are comfortable with a home that is functionally sound but not the largest or most updated on the block.
Frequently Asked Questions
1. Is this a good value for the neighbourhood?
Potentially, yes. The home's assessed value is significantly lower than the neighbourhood average, suggesting you may pay less for the location than you would for a larger or more updated home on the same street. You're buying into the area more than the size of the house itself.
2. What does "basement not renovated" imply?
It means the basement is unfinished or in a very basic state. It has core infrastructure (foundation, likely plumbing/electrical rough-ins) but requires investment to become livable space. This is a key cost to factor in but also allows you to customize it to your needs.
3. How does the 2021 sale price relate to today's value?
The home sold for $440,000 in April 2021. This historical price is a data point, but market conditions have shifted. The current assessed value of $45,800 is for taxation purposes and is not an indicator of market value. A current market appraisal or comparative market analysis is essential.
4. The living area seems small. How does it compare?
At 1,221 sqft, it is indeed smaller than most homes on Fairfield Avenue and in Fairfield Park. However, it is very close to the average home size citywide. This highlights its nature as a more compact, efficient home within a neighbourhood of generally larger properties.
5. What are the less obvious pros and cons of a 2008-built home?
A pro is that major components like the roof, windows, and mechanical systems are likely still within or approaching their mid-life, potentially deferring big expenses. A less obvious con is that design trends and building codes from the mid-2000s may feel dated compared to a brand-new build, and any original appliances are nearing the end of their typical lifespan.