Property Overview: 333 Flora Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 333 Flora Avenue in Lord Selkirk Park presents a distinct profile defined by its modern build date and modest scale. Built in 2001, it is a notably newer construction compared to most homes on its street and in its neighbourhood, which largely date to the early 20th century. This suggests potentially lower maintenance needs and more contemporary systems. With just over 1,000 square feet of living space, it is a compact home, smaller than the average for both the area and the city.
The appeal lies in its affordability and efficiency. The assessed value is significantly above average for the immediate area but well below the citywide average, indicating a lower entry point into the Winnipeg market. It suits practical, value-conscious buyers such as first-time homeowners, investors looking for a manageable rental property, or individuals seeking a modest, low-maintenance footprint. The property offers a modern structure in an established neighbourhood, a balance that can be hard to find.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbourhood average?
The assessed value reflects the property's relatively recent construction (2001). Compared to the century-old homes that dominate the area, this newer build likely has updated materials, systems, and components, which are valued higher by assessors.
2. How does the recent sale price (2024) relate to the assessed value?
The home sold for an estimated $100k-$150k in 2024, which is substantially higher than its $19,100 assessed value. This is common, as assessed value for tax purposes often lags behind actual market value, especially in areas with rising prices or for properties with unique features like a newer build.
3. What are the trade-offs for having a newer home in this area?
The primary benefit is modern construction. However, the lot size is below average for the neighbourhood, meaning less outdoor space. You're also buying into a community where the overall character and most surrounding homes are much older.
4. Is the living space sufficient for a family?
At 1,008 sqft, the living area is compact. It would likely suit a small family, a couple, or an individual comfortably, but may feel constrained for larger households compared to more typical-sized Winnipeg homes.
5. What does "below average" for citywide lot size mean practically?
The lot is approximately 3,476 sqft, which is smaller than over 80% of residential lots across Winnipeg. This means a smaller yard for gardening, recreation, or expansions. For some buyers, this translates to less upkeep, while for others, it may be a limitation.