Property Overview: 718 Stella Avenue, Winnipeg

Key Characteristics & Appeal

This 2014-built bi-level home at 718 Stella Avenue presents a distinct profile within Winnipeg's Dufferin neighbourhood. Its primary appeal lies in its modern construction, being significantly newer than most homes on its street and in the wider area. With a living space of 897 sqft and a renovated basement, it offers efficient, low-maintenance living on a modest 3,615 sqft lot.

The property’s standout characteristic is its assessed value, which ranks in the top 7% locally, suggesting it is viewed as a high-quality asset relative to its immediate peers. This creates an interesting dynamic: you are acquiring one of the newest homes in the area, but with a smaller footprint and lot size than neighbourhood averages. It would suit first-time buyers or downsizers seeking a modern, turn-key home without the upkeep of a century-old property, and who prioritize interior condition over expansive outdoor space. For the right buyer, its value is in its contemporary foundations and renovated basement, offering a move-in-ready experience in an established community.

Frequently Asked Questions

1. How does the smaller living area and lot size impact value?
While the home's square footage is below average for the street and city, this is balanced by its newness and condition. The high assessed value relative to older, larger neighbours reflects this trade-off: you are paying for modern systems, efficiency, and less immediate need for repairs.

2. What does the high assessed value compared to sale price indicate?
The home sold for $240,000 in January 2024, while its assessed value is noted as $24.60k. It is crucial to clarify that the assessed value figures in the data appear to be truncated or formatted incorrectly (likely missing digits). Typically, a sale price of $240k would align with a full assessed value in a similar range. Buyers should consult the official municipal assessment for the accurate figure.

3. Who might this property not suit?
It may not suit buyers looking for a large yard, extensive square footage, or the classic character of an older home. Its appeal is modern convenience, not traditional space or lot size.

4. Is the renovated basement included in the living area square footage?
The listed living area is 897 sqft. A renovated basement typically adds functional space but is often not counted in the official above-grade living area square footage, which explains the efficient yet compact main living footprint.

5. What is the significance of it being a bi-level?
Bi-level homes typically feature a layout where the main entry is between two floors. This can offer good separation of living and sleeping areas and often includes a basement that is partially above ground, allowing for more natural light—a benefit for the renovated lower level.