Property Overview
This 2020-built bi-level home at 3-1171 Fife Street in Winnipeg’s Inkster Industrial Park is a compact, modern property with a straightforward profile. At 912 sqft of living space on a 3,025 sqft lot, it offers a low-maintenance footprint. Key features include an unfinished basement and no garage. Its assessed value is notably modest compared to the city-wide average, reflecting its specific location and scale.
Section 1: Key Characteristics & Appeal
The primary appeal of this home lies in its newness and simplicity. Built in 2020, it is a modern structure requiring minimal immediate upkeep, which is a significant advantage in a market with many older homes. Its bi-level design and unfinished basement provide flexible space for storage or future customization.
Its appeal is grounded in practicality and affordability. The property suits first-time buyers seeking an entry point into homeownership with a newer build, or investors looking for a modestly-priced, modern rental property in an industrial area. It would also suit those who prioritize a simple, low-maintenance lifestyle without the burdens of a large yard or complex property.
A less obvious perspective is its statistical standing. While the home feels average within its immediate area, its year of construction places it in the top 3% city-wide for newness. This highlights a unique contrast: it’s a very contemporary structure in a neighbourhood and price bracket typically associated with older inventory.
Section 2: Frequently Asked Questions
1. What is the neighbourhood like?
The home is located in the Inkster Industrial Park. Buyers should expect a practical, no-frills environment suited to industry and commerce, rather than a traditional residential community with parks and amenities.
2. Is there potential to increase the living space?
Yes. The home has an unfinished basement, which presents a clear opportunity to add liveable square footage, subject to permits and investment.
3. How does the assessed value compare to the likely selling price?
The home last sold in late 2020 for an estimated $26.5k-$29.5k, and is now assessed at $33.5k. This suggests stable, modest appreciation. The final sale price will depend on market conditions, but the assessed value provides a grounded benchmark.
4. What are the considerations of not having a garage?
Parking will be limited to driveway or street. This means dealing with vehicle maintenance (like plugging in block heaters) outdoors in winter, and less secure storage for tools or belongings.
5. Why is the city-wide average assessed value so much higher?
The city-wide average (around $390k) includes all home types across all neighbourhoods. This property’s value is significantly lower due to its smaller size, industrial park location, and lack of premium features, making it an affordable segment of the market.