Property Overview: 177 Summerfield Way, Winnipeg
Key Characteristics & Appeal
This 1,200 sqft home, built in 1973, presents a practical and value-conscious opportunity in Winnipeg's River East neighborhood. Its primary appeal lies in its efficient use of space and its position as a relatively affordable entry point into a well-established area.
The home stands out on its own street, ranking in the top 9% for living area, meaning it offers more interior space than most of its immediate neighbors. It is also the newest home among comparable properties on Summerfield Way. However, the lot size is more compact than typical for the wider neighborhood and city. The assessed value is notably below area and city averages, suggesting a potentially lower property tax burden and an attractive price point for the square footage offered.
This property would suit first-time buyers or downsizers seeking a manageable, single-level home without a large yard to maintain. It’s also a sensible option for value-focused investors or buyers who prioritize interior space over outdoor land area, and who are comfortable with a home from the early 1970s.
Frequently Asked Questions
1. Is this a good value compared to other homes in River East?
Based on assessed values, this home is priced below the neighborhood average, which could indicate good value for the living space. However, it's important to view the property in person, as the lower assessment may reflect the home's condition, updates needed, or its smaller lot size.
2. What does the sold price history tell me?
The home last sold between $250,000 and $300,000 in late 2020. This gives a recent benchmark, but market conditions have likely changed. For precise historical sold prices, you can request a manual lookup from the site.
3. How does the lot size impact the property?
The lot is smaller than most in River East. This means less yard maintenance, but also less private outdoor space and potentially less room for future expansions like a large deck or addition, which should be considered in your plans.
4. The home is newer than others on the street. Is that significant?
Being the newest on the block (1973 vs. a 1972 street average) is a minor positive, suggesting potentially fewer age-related issues than some immediate neighbors. However, it is still a 50+ year-old home, so a thorough inspection for systems, roof, and structure remains essential.
5. Why is the assessed value so much lower than the neighborhood average?
This can be due to several factors, including the smaller lot size, the home's specific condition and features, and municipal assessment methodology. A below-average assessment often translates to lower property taxes, which is a tangible financial benefit for the owner.