Property Summary: 1202 Lee Boulevard, Winnipeg
Key Characteristics & Buyer Profile
This one-storey home in Fairfield Park presents a practical and modern living option. Its key appeal lies in its contemporary build year (2013), which places it among the newest homes in the immediate area, potentially reducing concerns about major system replacements. The home features a renovated basement and an attached garage, with a living space of 1,418 sq ft that is compact yet efficient for city living. The lot is notably smaller than others on the street, which translates to lower maintenance but less private outdoor space.
The property’s value proposition is nuanced. While its size and lot are below average for the Fairfield Park neighborhood, its modern build and renovated basement offer move-in readiness. It suits first-time buyers or downsizers seeking a newer, low-maintenance home without a premium price tag for a large plot. It may also appeal to value-focused investors, as its assessed value is strong citywide, suggesting solid fundamentals despite being modest for the specific street.
Frequently Asked Questions
1. Is this a good value for the neighborhood?
The data suggests a trade-off. You are paying for a newer, renovated home on a desirable street, but you get less living space and a significantly smaller lot than most neighbors. It represents value for those prioritizing modern construction over square footage.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This is a key detail to clarify with the seller or agent to understand if it’s a finished living space, a rental suite, or simply updated.
3. How does the small lot impact daily living?
The lot is among the smallest on the boulevard. This means minimal yard upkeep, but also limited potential for expansions like additions, decks, or pools. It offers a more lock-and-leave lifestyle.
4. Why is the assessed value much higher than the 2019 sale price?
The assessed value is a municipal valuation for tax purposes, while sale price is market-driven. The increase likely reflects general market appreciation and the value placed on the home's newer age and renovations since the last sale.
5. Who typically lives on this street?
Given the larger average lot and living sizes of neighboring homes, the street likely consists of established families or long-term residents. This home, being newer and more compact, offers a different dynamic on the same block.