Property Overview
560 Smithfield Avenue is a compact, one-storey home in Winnipeg's Jefferson neighbourhood. Built in 1950, its 792 sqft living area is modest, ranking it below the city average for size but around the average for its immediate street. The home sits on a standard 5,337 sqft lot and features a renovated basement and a detached garage. Its most recent sold price (late 2023) and its assessed value are both consistently around the $28,500 mark, positioning it as a highly affordable entry point into the market.
Section 1: Key Characteristics & Appeal
The primary appeal of this property is its straightforward affordability and functional updates. With a renovated basement, it offers flexible space beyond its main-floor square footage. The detached garage provides practical storage or workshop potential. Its lot size is typical for the area, offering adequate outdoor space without demanding extensive upkeep.
This home would suit first-time buyers, investors, or downsizers seeking a low-maintenance, cost-effective property. Its value lies not in grandeur, but in utility and financial accessibility. A less obvious perspective is its relative "newness" compared to other homes on Smithfield Avenue—built in 1950, it is actually younger than many neighbouring houses, which could suggest fewer issues associated with very early-century construction. Its consistent valuation (where assessed value closely aligns with recent sale price) indicates a stable, predictable market value with little speculative inflation.
Section 2: Frequently Asked Questions
1. Is this a small house?
Yes. At 792 sqft of living area, it is notably smaller than the Winnipeg city average. However, it is closer to the average size for homes on Smithfield Avenue itself, and the renovated basement provides additional usable space.
2. What does the "renovated basement" include?
The provided details do not specify the exact finish or features. We recommend confirming with the listing agent whether it is fully developed into living space, what amenities it includes, and if proper permits were obtained.
3. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the local market in Jefferson and on Smithfield Avenue, where home values are generally lower. The city-wide average is skewed higher by more expensive neighbourhoods. This home's assessment is typical for its immediate area.
4. Is the detached garage in good condition?
The listing does not detail the garage's state. Given the age of the property, a prospective buyer should verify its structural condition, door operation, and suitability for modern vehicles.
5. How does the lot size compare?
At 5,337 sqft, the lot is fairly standard—it's neither particularly large nor small for Winnipeg. It is very close to the average lot size on Smithfield Avenue and provides a typical urban yard space.