Property Overview: 141 Summerfield Way, River East, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,200 sqft home, built in 1973, presents a practical opportunity in Winnipeg's River East neighborhood. Its core appeal lies in its efficient use of space and its position on a street of well-established homes. While the living area is above average for Summerfield Way, the property’s assessed value and lot size are notably below averages for both the neighborhood and the wider city. This creates a distinct profile: you are acquiring a home that is newer than most on its specific street, with a more generous interior footprint than its immediate neighbors, but on a smaller, more modestly valued parcel of land.
The property would suit a first-time buyer or a downsizer looking for a manageable, single-level home (likely a bungalow or split-level, given the era and area) without a large yard to maintain. Its below-average assessed value suggests a potentially lower property tax burden, which is a significant, less obvious advantage. It’s a home for those prioritizing interior space over exterior land, and value over prestige within the community. The data indicates it last sold between $250k-$300k in early 2021, positioning it as an accessible entry point into a mature area.
Section 2: Frequently Asked Questions
1. Is this a good value compared to other homes on the street?
Based on assessed value, this home is ranked below the street average. However, it offers more living area than most neighboring homes and is actually the newest house on the street. This suggests you may be paying for the interior space and the building itself, rather than a large lot.
2. Why is the assessed value so much lower than the neighborhood average?
The primary reasons are the significantly smaller land size (approx. 3,000 sqft vs. a neighborhood average over 7,000 sqft) and the home’s modest valuation relative to its interior space. It sits on a compact lot in an area where many homes have larger properties.
3. What does the sold price data from 2021 tell me?
The previous sale in the $250k-$300k range confirms the home has historically traded below typical neighborhood prices. This provides a benchmark, but market conditions have likely changed since 2021.
4. How reliable is the sold price information shown here?
The site states this data is from public online sources, not the MLS, and is presented in broad price bands. For fully verified, exact historical sale figures, you must request a manual lookup from the site via email.
5. What are the trade-offs of the smaller lot size?
A smaller lot (about one-third the neighborhood average) means less outdoor maintenance, which can be a benefit. The trade-off is less privacy, limited space for expansions like decks or additions, and typically less distance from neighboring homes.