Property Overview
This two-storey home at 1127 Colby Avenue in Winnipeg's Fairfield Park neighbourhood presents a well-sized, modern property with a renovated basement and an attached garage. Built in 2007, it offers the advantages of a relatively newer construction, including likely updated building systems and modern layouts, without being brand new. The home's key appeal lies in its above-average space and lot size compared to most local and city-wide benchmarks. With over 2,100 sqft of living area and a 6,147 sqft lot, it provides ample room for families. The renovated basement adds valuable finished space for recreation, a home office, or guests. This property would best suit buyers looking for a move-in ready, spacious family home in a mature neighbourhood, who value the low-maintenance aspects of a newer build and the potential of a finished lower level. A thoughtful perspective is that while its assessed value is strong for the area, its last sale price in 2019 was notably lower, which may indicate room for equity growth or simply reflect market appreciation trends—a point for savvy buyers to investigate.
Frequently Asked Questions
What is the significance of the property rankings provided?
The rankings show how this home compares to others on its street, in Fairfield Park, and across Winnipeg. For key metrics like living area and lot size, it consistently places in the top 30% or better, confirming it is a larger-than-average property for its location.
Is the basement renovation a legal suite?
The listing states the basement is renovated but does not specify it as a legal secondary suite. Buyers should verify with the municipality if a separate entrance or kitchen exists and whether any renovations were permitted, as this affects its use and value.
How does the 2019 sale price relate to the current assessed value?
The home sold for $47.50k in 2019 and now has an assessed value of $59.80k. This increase reflects market changes and the renovated basement. It’s important to note that assessed value is for tax purposes; market value is determined by current buyer demand.
What are the utility costs for a home of this size and age?
While not listed, a 2007-built, 2,191 sqft home will have modern insulation and efficient systems. Costs should be relatively predictable compared to older homes, but requesting past utility bills from the sellers is always recommended for accurate budgeting.
How does the lack of a pool affect the property's appeal and maintenance?
The listing confirms no pool. This is often a positive for families with young children seeking a safer, lower-maintenance yard and for buyers who prefer to use the large lot for other purposes like gardening or play structures, without the ongoing cost and upkeep of a pool.