Property Overview: 1026 Simpson Avenue, Winnipeg
Key Characteristics & Appeal
This home on Simpson Avenue in Munroe East presents a distinct profile defined by its above-average living space within a modestly valued setting. Built in 1967, it is newer than many homes on its street and in the immediate area. Its primary appeal lies in its generous 1,170 sqft of living area, which ranks in the top 10% for the neighbourhood, offering more interior space than most comparable local homes. This is paired with a standard 5,200 sqft lot.
The property’s most notable characteristic is its assessed value of $150k, which is significantly higher than the average for Munroe East and Simpson Avenue, yet remains below the Winnipeg city-wide average for homes. This suggests a valuation that reflects its larger size within its specific, more affordable locale. Historical data shows it last sold for an estimated $300k–$350k in 2021.
This home would suit a practical buyer looking for more room in a neighbourhood of typically smaller, older homes, without entering the city’s higher price brackets. It represents an opportunity for space over premium finishes or location, ideal for someone who values square footage and sees potential in a property that stands out from its immediate peers in scale and official valuation.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbourhood average?
The assessed value is likely higher because the home offers significantly more living space (1,170 sqft) than the area average (~986-1,009 sqft). Assessors factor in size, condition, and improvements, so the larger square footage places it in a different value tier despite being in the same locale.
2. How does the 2021 sale price relate to the current assessed value?
The home sold for an estimated $300k–$350k in 2021. The current assessed value of $150k is for municipal tax purposes and is not a market valuation; it is typically lower and follows a different calculation model. The sale price is a better indicator of its recent market value.
3. Is the larger living area due to additions or an unusual layout?
The data provided does not specify renovations or additions. The home was built in 1967, which is newer than many on the street, possibly indicating a design with inherently more interior space for its era compared to neighbouring properties.
4. What does the "below average" city-wide assessed value ranking mean?
While the value is high for its area, it ranks in the bottom 3% city-wide (Top 97%). This simply means that compared to all Winnipeg homes, including those in more expensive neighbourhoods, its assessed value is lower. It highlights the property’s position in an affordable part of the city.
5. How reliable are the "rank" and "top %" figures for comparison?
These rankings are a useful tool to quickly gauge how this property compares to specific groups (street, area, city) for each metric. They show, for instance, that the living space is a standout feature locally. For a detailed visual comparison with immediate neighbours, the provided neighbourhood analysis map is recommended.