Property Overview: 1122 Lee Boulevard, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Fairfield Park is defined by its practical size and notable value proposition. With 1,060 sqft of living space and a renovated basement, it offers a manageable layout for day-to-day living. Its key appeal lies in its position as a citywide value leader: while its assessed value is below average for its immediate street and neighborhood, it ranks in the top 30% across the entire city, suggesting a more affordable entry point into the Winnipeg market compared to many other areas. The lot size is standard for the city, and the home, built in 1989, is newer than the Winnipeg average.
This property would suit first-time buyers or downsizers seeking a solid, no-fuss home without a premium price tag. It’s for the pragmatic buyer who prioritizes financial efficiency and a renovated basement over above-average square footage or a newer build. A less obvious perspective is its potential for someone who values a home that is already updated in key areas (the basement), allowing them to avoid major immediate projects, and who is comfortable in a neighborhood where this specific home represents a more modest offering compared to its immediate peers.
Section 2: Frequently Asked Questions
1. Is this a good value for money?
Based on the data, yes, particularly from a city-wide perspective. The home’s assessed value places it in the top 30% of all Winnipeg properties for value, meaning you get more house for your tax dollar here than in most of the city, even if it’s a smaller home on its street.
2. Why is the living area smaller than many nearby homes?
The data shows this home’s living area is in the bottom tier (top 96%) for both Lee Boulevard and Fairfield Park. This indicates the immediate area consists of larger homes, making this a more compact, potentially more affordable option in the same location.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the details. This is a key question for your real estate agent to ask the seller to understand the finish quality, permitted status, and the added functional space it provides.
4. How do the past sale prices affect the current value?
The home sold for $37.1k in 2020 and $29.3k in 2016. These figures are likely for the land and structure value only (not the market sale price), which is common for assessed value records. They show a trend of increasing assessed value, but a current market appraisal and comparison to recent neighborhood sales are essential.
5. Is the 1989 build date a concern?
While older than many homes in Fairfield Park, the home is newer than the average Winnipeg house. The renovated basement suggests some updates have been made. A standard home inspection is recommended to evaluate the condition of major systems like roof, HVAC, and plumbing for a home of this age.