Property Overview: 113 Summerfield Way, River East, Winnipeg
Section 1: Key Characteristics & Appeal
This 840 sqft bungalow, built in 1972 on a 5,136 sqft lot, presents a compelling case for value-focused buyers. Its primary appeal lies in its strong position on its own street. While the home's size is below the neighborhood and city averages, it boasts an assessed value ($338k) that ranks in the top 25% of Summerfield Way, suggesting it is a well-regarded property on a desirable block. This creates an interesting dynamic: you're acquiring a home that stands out on its street, within a neighborhood (River East) where property values are generally higher.
The home would suit first-time buyers, downsizers, or investors looking for a manageable property with a solid foundation in a mature community. Its recent sale history indicates active interest. A thoughtful perspective is that this property offers a "best house on the block" potential within its immediate micro-area, which can be a smarter long-term play than a larger home in a less consistent location. The lot size is also above average for the street, offering valuable outdoor space.
Section 2: Frequently Asked Questions
1. How does the home's below-average size impact its value?
While the living area is smaller than many area homes, the assessed value is strong for its specific street. This often indicates factors like a desirable lot, updates, or a favorable layout that aren't captured by square footage alone.
2. What do the recent sold prices suggest?
The property sold twice in 2024, with the later sale at a significantly higher price range. This suggests a rapid appreciation, possibly due to renovations or a competitive bidding environment, highlighting the street's desirability.
3. Is the assessed value a reliable indicator of market price?
The assessed value ($338k) is for municipal tax purposes and is often below market value. The recent sold price data is a more current indicator, but for exact historical sale figures, you must request a manual lookup from the site.
4. How does this home compare to others on Summerfield Way?
It ranks above average in value and has a larger-than-average lot for the street, but its living area is around the street's median. It is a contemporary of many homes on the block, most built in the early 1970s.
5. What are the advantages of a 1970s bungalow like this?
Homes from this era often feature straightforward layouts, larger lot sizes compared to newer subdivisions, and established neighborhoods. They are typically good candidates for renovation and modernization to suit contemporary needs.