Property Overview: 23 Southmoor Road, Niakwa Place, Winnipeg
Key Characteristics & Appeal
This 1,789 sqft bungalow, built in 1970 on a 6,512 sqft lot, presents a compelling mix of space, value, and location. Its primary appeal lies in its above-average living area, which ranks within the top 26% of homes in the Niakwa Place neighbourhood and top 18% city-wide, offering more interior space than many comparable properties. The home sits in a well-established area with a consistent streetscape, as indicated by its similar age to neighbouring houses.
A thoughtful perspective is its value positioning. With an assessed value of $384,000, it sits below the average for its specific street but aligns more closely with the city-wide average. This suggests the potential for a relative value opportunity within a desirable street, where you get a larger-than-average home for a assessed value that is competitive in the broader market. The lot size, while slightly smaller than others on the block, is still above the Winnipeg average, offering decent outdoor space.
This property would suit buyers looking for a spacious bungalow in a mature neighbourhood without a premium street price tag. It’s ideal for those who prioritize interior square footage over having the largest lot on the block and who see potential in a home that may offer value relative to its immediate neighbours.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $384k is for municipal tax purposes. The last known sold price in 2022 was in the $400k-$450k range. Market conditions, updates to the home, and buyer demand will determine the final sale price.
2. Is the smaller lot size compared to the street average a significant drawback?
While the lot is smaller than others on Southmoor Road, it is still larger than the typical Winnipeg lot. It provides ample yard space for most uses but may be a consideration if you desire extensive landscaping or outdoor structures.
3. What does the 1970 build date mean for maintenance?
Built 56 years ago, this home is of an age where major components like the roof, windows, plumbing, or electrical systems may have been updated or could be nearing the end of their service life. A thorough inspection is recommended to budget for any necessary updates.
4. The home seems spacious for its value. Is there a trade-off?
The data shows you get more house for your money here compared to many peers. The trade-off appears to be primarily the lot size relative to the street. There may also be original features that require modernization, which is common for homes of this era.
5. How can I verify the exact past sale prices?
The website provides sold price ranges based on public data. To obtain exact historical sale figures, you must request a manual lookup via email from the site provider, as they do not display full MLS transaction records.