Property Overview: 475 Summerlands Boulevard, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1945, situated on a modest lot in the Kirkfield neighbourhood. With 1,034 sqft of living space, it is smaller than most homes on its street and in the local area, but it sits close to the city-wide average for size. The home has a basement, but it is noted as not being renovated, and the property does not include a garage or pool.
The primary appeal lies in its position as an entry-point property. Its assessed value is significantly below average for the street, neighbourhood, and city, indicating a potentially lower price point. This creates an opportunity for first-time buyers, investors, or those seeking a minimalist footprint. The home’s smaller scale could mean lower utility costs and less maintenance, suiting a practical, budget-conscious buyer. A thoughtful perspective is that a home of this era and size on a manageable lot offers a straightforward canvas; it appeals to those who value function over excess and see potential in a basement that awaits their personal touch, rather than paying for a prior owner’s renovations.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value reflects factors like the home's smaller size, age, lack of recent major renovations, and the modest lot dimensions compared to neighbouring properties. It is consistently ranked at or near the bottom of its peer groups for this metric.
2. What does "below average" for the lot size mean for me?
The land area is 3,159 sqft, which is less than half the average for Kirkfield. This means a smaller yard to maintain, which can be a benefit for those wanting low outdoor upkeep. However, it also limits possibilities for expansions or large outdoor amenities.
3. The home sold for between $10.5k and $13.5k in 2017. Is that relevant today?
That historical price is not an indicator of current market value. It serves to show the property's history but should not be used for present-day valuation, which is influenced by many factors, including recent market conditions and the home's current state.
4. Who would this property suit best?
It is best suited for a first-time homebuyer comfortable with a project, an investor looking for a rental property, or a downsizer seeking a simple, manageable home without premium features. It is less suited for those needing ample space, a modern renovated basement, or a large yard.
5. Are there any obvious major costs to anticipate?
Given the age of the home (built 1945) and the unrenovated basement, buyers should budget for potential updates to major aging systems (like plumbing or electrical) and should consider the cost to finish the basement to their needs. The lack of a garage may also factor into future budgeting if adding one is desired.