Property Overview: 1134 Colby Avenue, Winnipeg

Key Characteristics & Appeal

This two-storey home in Fairfield Park is a substantial and modern property, built in 2005. Its primary appeal lies in its generous scale and above-average positioning within the market. With 2,300 sqft of living space, it ranks within the top 15% of homes in the neighbourhood and the top 5% citywide, offering significant room for a growing or multi-generational family. The home features a renovated basement and an attached garage.

The property suits buyers looking for a move-in ready, spacious home from the 2000s without the premium often associated with brand-new construction. Its assessed value of $600k places it in the top quarter of Fairfield Park, suggesting a solid investment in a well-established area. A thoughtful perspective is that while the lot size is average for the area, the home’s footprint maximizes the living space, prioritizing interior volume over extensive yard maintenance—a practical trade-off for many modern buyers. The home’s last sale was in 2021 for $580k, providing a clear recent benchmark for value assessment.

Frequently Asked Questions

1. How does this home’s size truly compare?
At 2,300 sqft, this home is significantly larger than the Winnipeg city average (~1,342 sqft). It is also above the average for both Colby Avenue and the wider Fairfield Park neighbourhood, placing it in the upper tier for living space.

2. What does the assessed value tell me?
The $600k assessment is above average for the street, neighbourhood, and city. This typically indicates the property is valued highly by the assessor relative to its peers, which can be a marker of desirability and condition, though market price can vary.

3. Is the lot size a constraint?
The lot is approximately 5,584 sqft, which is average for Colby Avenue and Fairfield Park. It provides standard backyard space for the area. The home’s design focuses on interior square footage, making it ideal for those who value indoor living space over a vast yard.

4. How does the 2005 build year affect the home?
Built 21 years ago, the home is newer than most in Winnipeg but is around the average age for its immediate street. Buyers benefit from modern construction standards and layouts while likely facing near-term maintenance milestones for original components like roofing or HVAC.

5. Who are the most comparable neighbours?
The most direct comparisons are other homes on Colby Avenue with similar lot sizes and build years. The provided example at 1136 Comdale Ave (built 2006, 2,093 sqft, assessed at $585k) is a very close benchmark in a nearby location.