Property Overview: 586 Smithfield Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated one-storey home in Jefferson presents a practical and value-oriented opportunity. Its key appeal lies in a combination of a generous, above-average lot size for the area and a recently renovated basement, offering immediate livability and potential for outdoor enjoyment or expansion. The home itself is compact at 792 sq ft, which translates to lower utility costs and minimal upkeep—a significant draw for those looking to right-size.

The property’s assessed value ranks notably high for its immediate street, suggesting it is viewed favorably compared to its closest neighbors. Built in 1951, it is a newer construction relative to many homes on Smithfield Avenue, which may imply fewer concerns with some aging infrastructure common to Winnipeg’s earliest builds. The detached garage adds flexible storage or workshop space.

This home would best suit first-time buyers seeking an affordable entry into the market, downsizers looking for a manageable property without sacrificing yard space, or pragmatic investors wanting a turnkey property with a renovated basement suite potential (subject to zoning verification). Its value proposition is clear: a low-maintenance footprint on a desirable lot in an established neighborhood.

Section 2: Frequently Asked Questions

1. How does the living space compare to nearby homes?
At 792 sq ft, the living area is below the average for both the Jefferson area and Winnipeg city-wide. However, it is closer to the average for homes on Smithfield Avenue itself. This indicates a more compact, efficient layout typical of many homes on this specific street.

2. The assessed value seems high for a smaller home. Why is that?
The $300k assessment ranks in the top 26% on its own street. This premium likely reflects the renovated basement, the larger-than-average lot for the area (5,344 sq ft), and the home's relatively newer build year compared to its immediate neighbors.

3. What is the significance of the 1951 build year?
While 75 years old, this home is actually newer than many on its block. For context, the average build year on Smithfield Avenue is 1945. This relative "newness" can be an advantage, potentially meaning updates to original systems have already occurred or that certain materials and layouts are more modern.

4. What can recent sale prices on the street tell me?
A nearby property sold in March 2023 for between $295k and $325k. Given this home's assessed value of $300k and its above-street-average rankings, it sits within a similar pricing tier, providing a concrete benchmark for the street's market.

5. Is the lot size a major feature?
Yes. The lot of 5,344 sq ft is above average for both the street and the Jefferson area. For a smaller home, this is a standout feature, offering ample outdoor space for gardens, recreation, or future additions like a deck or shed, which is less common in this price and size range.