Property Summary: 579 Beaverbrook Street
Section 1: Key Characteristics & Appeal
This one-storey home on Beaverbrook Street is a compact, no-fuss property built in 1950. Its primary appeal lies in its efficient scale and recent updates, most notably a renovated basement that adds functional living space to the 832 sqft main floor. The home sits on a standard city lot of just over 4,500 sqft and includes a detached garage.
The property’s standout feature is its financial history. It has appreciated significantly, with its last sale price in 2022 ranking in the top 20% for the area, suggesting strong recent market interest. Despite its smaller-than-average living area, its assessed value holds steady around the neighborhood norm. This creates an interesting value proposition: you’re acquiring a home with proven investment appeal in a stable setting, not a fixer-upper.
This home would suit first-time buyers or downsizers seeking an affordable, low-maintenance footprint without sacrificing a full basement space. It’s also a pragmatic choice for an investor looking for a straightforward rental property with recent improvements. The buyer should be comfortable with a cozy layout, valuing location and financial practicality over sheer square footage.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 832 sqft, the living area is notably smaller than most area homes. However, the renovated basement effectively doubles the usable space, making it more livable than the main square footage alone suggests.
2. Why is the assessed value much lower than the recent sold price?
The assessed value ($39.2k) is for municipal tax purposes and often lags behind the actual market. The 2022 sale price (between $41.5k-$44.5k) is a better indicator of its current market value, showing it has sold at a premium relative to its assessment.
3. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the finishes or layout. A viewing is essential to assess the quality of the renovation and how the space is configured (e.g., as a rec room, separate suite, or additional bedrooms).
4. How does this property compare to others on the street?
The data shows it’s very typical for Beaverbrook Street in terms of assessed value and land size. Its main difference is the smaller living area, but its strong recent sale price suggests buyers have valued its updated condition over this factor.
5. What are the implications of a detached garage?
A detached garage offers flexibility and can be easier or cheaper to repair/replace than an attached structure. However, it means a walk to your vehicle in Winnipeg winters, which is a consideration for some buyers.