Property Overview: 1139 Colby Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This single-storey home in Fairfield Park is a study in contrasts, offering a practical and modern living space on a generous lot. Built in 2005, it presents as a well-maintained, contemporary property featuring an attached garage and a renovated basement. Its primary appeal lies in its efficient use of space and its above-average, sizable lot of over 6,000 sqft, which is a notable asset in its neighborhood and city-wide. The living area, while smaller than many immediate neighbors, is close to the Winnipeg average, suggesting a manageable layout without excessive upkeep.
The home’s assessed value tells an interesting story: it is average for its street and area, but ranks within the top 13% city-wide. This indicates you are acquiring a property with solid intrinsic value in the broader market, positioned in an established area. It would suit first-time buyers or downsizers looking for a modern, low-maintenance home with a great yard for gardening or outdoor living. It’s also a sensible choice for value-focused buyers who appreciate a home that stands out more for its land and city-wide valuation than for its square footage relative to the immediate block.
Section 2: Frequently Asked Questions
1. Is the house significantly smaller than others on the street?
Yes, at 1,486 sqft, the living area is below the average for Colby Avenue. This translates to a more efficient, potentially easier-to-maintain home, but buyers should be aware of the size difference compared to neighboring properties.
2. What does the "above average" city-wide assessed value mean?
While the assessed value is typical for Fairfield Park, it ranks in the top 13% across all of Winnipeg. This suggests the property holds strong fundamental value compared to the wider city market, which can be a positive indicator for long-term equity.
3. How does the lot size compare?
The land area is a key strength. At 6,147 sqft, the lot is above average for both the street and the broader Fairfield Park area, offering more outdoor space than many comparable properties.
4. The home sold in 2016 for $44.5k—why is the assessed value now $54.6k?
The 2016 sale price appears to be an outlier and is not reflective of current market value. The assessed value is determined by the city and is a more reliable, current gauge of its value for taxation and general market positioning.
5. Given the rankings, what’s the overall perspective on this property?
It presents a trade-off: you get a newer home (2005) on a larger-than-average lot with a renovated basement, but with less interior space than some neighbors. Its appeal is for those who prioritize lot size, modern features, and city-wide value over having the largest house on the block.