Property Overview: 223 Leila Avenue, Margaret Park, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 223 Leila Avenue presents a distinct profile centered on value and efficiency. Its key characteristic is its compact 624 sqft living area, which is notably smaller than most homes in the neighbourhood and city-wide. However, this is balanced by a very competitive assessed value of $29,700, which is around average for the street and area, suggesting a lower property tax burden relative to many other homes. The 1999 build year is a significant asset, making it one of the newer homes in Margaret Park and offering modern construction standards compared to the area's predominantly older housing stock. The lot is a standard size for the area at just over 5,000 sqft.
The appeal lies in its position as an affordable, low-maintenance entry point into the Winnipeg market. It suits first-time buyers, investors, or downsizers seeking a cost-effective home with newer infrastructure, who are comfortable with a smaller, efficient footprint. A thoughtful perspective is that its below-average size but average-for-the-area value could indicate the land and location are the primary drivers of worth, offering potential for future expansion or redevelopment. It’s a practical choice for those prioritizing financial efficiency and a newer build over square footage.
Section 2: Frequently Asked Questions
1. Is the smaller living area a concern?
Yes, it's a defining feature. At 624 sqft, it's significantly smaller than the typical area home. It will suit a minimalist lifestyle or a buyer with very modest space needs, but may feel cramped for those accustomed to more room.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's characteristics (size, age, location) relative to similar homes. Its value is in line with the local Margaret Park market, which generally has more modest valuations than the Winnipeg city-wide average of $390k.
3. What are the advantages of the 1999 build year?
A 1999 build is a major advantage in this neighbourhood. It likely means more modern wiring, plumbing, insulation, and building materials compared to the area's average, which could translate to lower immediate repair costs and better energy efficiency.
4. What is the potential based on the lot size?
The 5,081 sqft lot is standard for the area. For the right buyer, this presents a long-term opportunity: the valuable combination of a newer, smaller structure on a decent lot could allow for a future addition or redevelopment, subject to zoning.
5. How reliable are the sold price ranges shown?
The listed price ranges (e.g., CA$200k–250k in 2020) are based on public data. For the exact historical sale prices, you must request them directly via the provided email service, as they are not fully disclosed in public records.