383 Smithfield Avenue

Property Overview

383 Smithfield Avenue is a compact, one-storey home with a renovated basement and a detached garage. Built in 1947, its key characteristic is its modest 652 sqft living area, which is notably smaller than most homes on its street, in the Jefferson area, and across Winnipeg. This places it in the bottom 15-20% for size in these comparisons. The lot, at just under 4,750 sqft, is also slightly below average for the street but is typical for the Jefferson neighborhood. A significant feature is the home's low assessed value of $26,200, which is well below city-wide averages.

Its appeal lies in its affordability and efficiency. It represents a genuine entry point into homeownership, particularly for first-time buyers or investors seeking a rental property with a manageable footprint. The renovated basement adds functional living space, and the detached garage offers utility or storage. This home suits practical buyers who prioritize financial accessibility over square footage, and who see potential in a smaller, well-located property that requires less upkeep and lower property taxes than larger homes. A less obvious perspective is its appeal to those seeking to minimize their environmental footprint or who prefer a "right-sized" home without excess space to maintain.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's relatively small size (652 sqft) and its location. It is priced as an affordable, entry-level property within its market context.

2. What does "renovated basement" typically mean for a home of this age?
While specifics aren't provided, in a 1947 home this often indicates updates to essential finishes, lighting, and possibly moisture control. It's important to verify the quality, permits, and the basement's suitability as living space.

3. How does the smaller living area impact daily life and resale?
The layout will be efficient, favoring simpler lifestyles. While it limits space for larger families or extensive entertaining, it also translates to lower heating costs and less maintenance. Resale will always target a specific buyer looking for affordability and manageability.

4. Is the detached garage a standard feature for homes in this area?
The data shows the lot size is around average for Jefferson. A detached garage on a lot of this size is a valuable asset, providing secure parking or workshop space that many similarly priced properties may lack.

5. The home last sold between $20.5k and $23.5k in 2019. How useful is that price today?
That sale price is a historical benchmark, but it highlights the property's consistent position as an affordable option. Current market conditions, the renovated basement, and changes in the neighborhood since 2019 mean the present value will be determined by today's market.