Property Overview: 1131 Colby Avenue, Fairfield Park, Winnipeg
Key Characteristics & Appeal
This two-storey home in Fairfield Park is distinguished by its generous scale and modern foundation. Built in 2007, it offers a move-in-ready age with less concern for major system overhauls. Its primary appeal lies in its significant living space—at 2,682 sqft, it ranks in the top 2% of homes citywide—paired with a fully renovated basement, providing ample room for family life, entertaining, or flexible work-from-home arrangements. The attached garage and a larger-than-average lot for the area (over 6,000 sqft) add practical value.
The home’s assessed value places it well above average for Winnipeg, suggesting a premium property in a desirable setting. It suits buyers looking for a spacious, turnkey family home in a well-established neighborhood without the quirks and maintenance demands of an older character property. It’s an ideal fit for professionals or growing families who prioritize interior space, modern amenities, and a low-maintenance lifestyle over seeking a historic fixer-upper.
Frequently Asked Questions
1. How does the property’s value compare to recent sales?
The home last sold in 2020 for $590,000. Its current assessed value is significantly lower, which is typical, as municipal assessments for tax purposes often don't directly reflect current market value. Prospective buyers should consider recent comparable sales in Fairfield Park for a true market picture.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, the presence of legal egress, ceiling height, and whether it includes a bathroom or kitchenette to understand its full utility and value.
3. Is the lot size a advantage here?
At over 6,000 sqft, the lot is above average for both the street and the Fairfield Park area. This allows for more private outdoor space, potential landscaping projects, or additions like a deck or shed, which can be a rarity in newer subdivisions.
4. The home ranks "Elite" for size but not for assessed value on its street. What does that indicate?
This suggests that on Colby Avenue, the home is among the very largest (top 2%) but not the highest assessed. This could mean the street has a mix of very substantial homes, or that factors like specific upgrades, view, or condition influence assessments. It highlights the importance of viewing the property in person to gauge its finish relative to neighbors.
5. What is the significance of the consistent "above average" rankings across categories?
The home consistently ranks above the median in its immediate area for year built, lot size, and assessed value. This indicates a property that is not an outlier in any one negative aspect but represents a solid, well-above-average offering within its own neighborhood context, potentially offering good long-term stability.