Property Overview: 1204 Colby Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Fairfield Park stands out for its above-average size and modern build. With 2,445 sqft of living space, it ranks within the top 7-8% of homes in its immediate neighborhood and street, offering significantly more room than the typical Winnipeg house. Built in 2008, it is a relatively newer property in a city where the average home is decades older, suggesting modern construction standards and less immediate need for major updates. The home features an attached garage and a renovated basement, adding functional living and storage space.
Its appeal lies in offering a balanced, spacious family home in a mature neighborhood. The lot size is generous for the area, providing good outdoor space without the excessive maintenance of a much larger yard. The home’s consistent "above average" to "elite" rankings across key metrics—size, assessed value, and age—indicate a property that is a strong performer within its local market context. It last sold in October 2022, providing a relatively recent price benchmark.
This property would best suit buyers looking for a move-in ready, spacious family home who want the established feel of a neighborhood like Fairfield Park without inheriting an older home’s potential repair projects. It’s a practical choice for those prioritizing interior space and modern amenities over a brand-new build in a suburban development.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to the expected sale price?
The assessed value of $70.70k is for municipal tax purposes. The sale price from 2022 was $77.40k. Market conditions determine the final sale price, but these figures provide a recent transactional benchmark.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A buyer should inquire about the finishes, permits, and whether it includes added bedrooms, a legal suite, or simply finished living space.
3. Is the home in a flood zone or have any known environmental concerns?
This information is not provided in the basic details. Due diligence should include checking local floodplain maps and any history of basement water issues, which is a common consideration in Winnipeg.
4. How does the lack of a pool impact the property's value and upkeep?
For many Canadian buyers, not having a pool is seen as a positive, eliminating significant maintenance, safety concerns, and insurance costs. It aligns the property with buyers seeking low-maintenance outdoor space.
5. The home ranks highly for its size locally but is on a smaller lot than the city average. What does this mean?
This indicates the home’s value is driven by its interior living space rather than its land. It’s efficient for its neighborhood, offering ample house on a standard lot—ideal for those who prioritize indoor space over extensive landscaping.