Property Overview: 111 Old Commonwealth Path, Winnipeg
Key Characteristics & Appeal
This two-storey home in Inkster Gardens presents a compelling mix of modern convenience and established value. Built in 2016, it offers the significant advantage of a renovated basement and a detached garage. With 1,406 sqft of living space, it sits comfortably around the average for its immediate area, suggesting a practical, family-sized layout without excessive upkeep.
The property’s standout feature is its assessed value of $440k, which ranks in the elite top 3% on its own street. This indicates a perceived value that outstrips many direct neighbors, a point for serious consideration. The home suits buyers seeking a relatively newer build (10 years old) who want to avoid the immediate maintenance issues of an older property, but who also appreciate a neighborhood with established roots. Its appeal is grounded in practicality: it’s a turn-key, low-maintenance home for a growing family or a professional couple, with the added potential of a finished basement for extra living space or rental income.
A less obvious perspective is the lot size. At 2,068 sqft, the land area is notably smaller than most in the wider city and even the neighborhood. This translates to minimal exterior upkeep—a plus for those with busy lifestyles—but less room for expansive gardens or large additions. It represents an efficient use of space in a mature community.
Frequently Asked Questions
1. How does the assessed value compare to likely selling price?
The assessed value of $440k is a strong benchmark for municipal taxation, but the final sale price is determined by the current market. Its elite ranking on the street suggests a solid foundation of value relative to nearby homes.
2. What are the implications of the smaller lot size?
The land area is below average, which means lower maintenance for yards and landscaping. However, it also limits potential for large outdoor amenities or significant expansions. It’s ideal for those who prioritize the home itself over extensive outdoor space.
3. As a 2016 build, what major components might need attention soon?
While still modern, a 10-year-old home may be approaching the service interval for original components like the HVAC system, water heater, or roof shingles. A pre-purchase inspection is recommended to assess their remaining lifespan.
4. How does the renovated basement add value?
A finished basement immediately increases usable living space, which can be used for recreation, a home office, or a guest suite. It also suggests the major work of finishing the basement is already complete, adding convenience and immediate utility.
5. What is the neighborhood character of Inkster Gardens?
The presence of homes built from the 1980s through to 2016, like this one, indicates a settled, established community that has seen thoughtful infill development. It offers a blend of long-term residents and newer homes.