Property Overview: 117 Summerfield Way, River East, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a study in balance and practicality. Built in 1972, it is a quintessential example of its era, offering a manageable 840 sqft of living space on a near-5,000 sqft lot. Its assessed value of $329k sits comfortably around the average for its immediate street and the wider city, but notably below the average for the larger River East neighborhood. This creates a key dynamic: you’re acquiring a competitively priced entry into a established area.
The appeal lies in its position as a straightforward, lower-maintenance property. The lot size is generous for the home's footprint, offering outdoor space without being overwhelming. It suits first-time buyers seeking an affordable foothold in a mature community, or downsizers looking to simplify without leaving a familiar area. A thoughtful perspective is that this home represents a "value-average" proposition—it’s not the largest or newest on the block, but its pricing reflects that, potentially offering a sensible, lower-pressure entry point compared to more premium properties nearby. It’s for the buyer who prioritizes financial pragmatism and land over expansive interior square footage.
Section 2: Frequently Asked Questions
1. Is the living area small for the neighborhood?
Yes, at 840 sqft, the home’s living area is below the River East neighborhood average. However, it is much closer to the average for Summerfield Way itself. This suggests the street may feature more modestly sized homes, making this property a typical fit for its immediate surroundings.
2. How does the assessed value compare to recent sale prices?
The home last sold between $250k-$300k in early 2019. The current $329k assessment is higher, which is common as market values have shifted. For exact, verified historical sale prices, you can request a manual lookup via email from the site.
3. What does the "below neighborhood average" value mean for me?
It indicates this home is assessed at a lower value than many in the broader River East area. This can be an opportunity, as property taxes are often linked to assessed value. It means you may be gaining access to the neighborhood while carrying a relatively lower tax burden than owners of higher-assessed homes nearby.
4. Is the lot size a positive feature?
The lot is above average for Summerfield Way. For a home of this size, the land-to-building ratio is favorable, providing good outdoor space for gardening, recreation, or future expansion, which is a significant asset not always found with smaller homes.
5. Where can I see how this property compares visually to its neighbors?
The listing provides a link to a neighborhood map analysis tool. This allows you to see the home in context, comparing its year built, lot size, and value directly with nearby houses on a map for a clear visual understanding of the streetscape.