Property Summary: 501 Dufferin Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This bi-level home at 501 Dufferin Avenue is defined by its modern age and compact efficiency. Built in 2012, it is a notably newer construction compared to most homes on its street and across the Dufferin area, offering contemporary building standards without the concerns common to century-old properties. With 828 sqft of living space, it is a smaller home, suited for minimalists, first-time buyers, or investors seeking a manageable footprint. The property sits on a standard city lot and features an unfinished basement, presenting a blank canvas for future expansion or storage solutions.

Its primary appeal lies in this balance of newer construction and affordability within a mature neighbourhood. The home’s assessed value is high relative to its immediate area, which often reflects its newer condition and can be a point of consideration for valuation. It would best suit a pragmatic buyer looking for a low-maintenance, modern foundation in an established community—someone comfortable with cozy living spaces who values mechanical and structural updates over historic charm or large square footage. A thoughtful perspective is that while the living space is modest, the newer build likely translates to better energy efficiency and lower immediate repair costs than neighbouring properties, a trade-off that can be financially advantageous over time.

Section 2: Frequently Asked Questions

1. Why is the assessed value relatively high for the area?
The assessed value is likely higher than many neighbouring homes primarily due to the year of construction (2012). Newer builds with modern materials, systems, and compliance with current codes are typically assessed at a higher value than older, comparable homes.

2. Is the unfinished basement a drawback or an opportunity?
It’s primarily an opportunity. The basement provides essential utility space and significant storage. For a buyer, it represents future potential to add living space, a rental suite, or a recreational area according to their needs and budget, without the cost of undoing an existing, possibly dated, renovation.

3. Who might this smaller home not suit?
It may not be ideal for growing families needing multiple bedrooms and dedicated living areas, or for those who regularly work from home and require separate office space. The layout and total square footage prioritize efficient, compact living.

4. How does the 2021 sale price relate to current value?
The sale price of $220k from September 2021 provides a historical benchmark. Current market value will be influenced by factors since that date, including market trends, interest rates, and any changes to the property or immediate area. It is a solid data point for comparison but not a definitive current value.

5. What are the implications of having no garage?
Parking will be limited to driveway and street parking. This is common for the area but means vehicles are exposed to the elements, and securing outdoor storage for tools or bicycles becomes more important. Buyers should assess on-street parking availability during different times of day.