Property Overview: 118 Thom Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a solid, value-oriented proposition in Winnipeg's Radisson neighborhood. Built in 1973, it is notably newer than most homes in the immediate area, which can be a significant advantage for maintenance and systems. With 998 sqft of living space, it is comfortably sized for the street and neighborhood, though slightly more compact than the citywide average.
Its primary appeal lies in its strong positional value within its local market. The assessed value of $339k ranks well above average for both the street and Radisson, suggesting it is perceived as a premium property in its immediate context. This is supported by an above-average lot size for the street, offering more outdoor space than many neighbors. The home suits practical buyers looking for a well-regarded property within a specific community—ideal for a first-time buyer, a downsizer, or an investor seeking a stable asset in a mature neighborhood. It offers the benefit of being a "bigger fish in a smaller pond" locally, while remaining priced below the Winnipeg average, representing a strategic entry point into the market.
Section 2: Frequently Asked Questions
1. How does the 1973 build year compare to nearby homes?
This is one of the newer homes in the Radisson area, ranking in the top 5% for its neighborhood. This relative newness can mean updated building materials and potentially fewer major age-related repairs compared to many neighboring properties.
2. The living area is below the city average. Should I be concerned?
The living space is very much in line with the scale of homes on Thom Avenue W and in Radisson. It reflects the efficient, modestly sized homes typical of this community. Buyers seeking larger square footage may need to look to other areas, but for this locale, it is a standard and functional size.
3. Why is the assessed value above average for the street?
A higher assessment often reflects a combination of the home's condition, lot size, and newer construction relative to its peers. The data indicates this property is likely viewed as one of the more desirable on its block, possibly due to its lot dimensions, updates, or overall presentation.
4. What can the last sold price range tell me?
The home sold between $300k-$350k in late 2021. This range, which was in the top 16% for the street at that time, aligns with its above-average assessed value and confirms its standing as a higher-value home in this specific location.
5. How does the lot size impact the property's value?
At over 5,000 sqft, the lot is larger than most on Thom Avenue W. This provides valuable extra outdoor space, potential for gardening, storage, or expansion, and contributes directly to the property's above-average assessment for the area.