Property Overview: 511 Greenacre Boulevard, Winnipeg

Key Characteristics & Appeal

This is a well-situated, one-storey home in Kirkfield, built in 1961. With 1,012 sqft of living space and a recently renovated basement, it offers functional, single-level living. The property stands out for its above-average lot size relative to the city, providing good outdoor space, and it features a detached garage. Its assessed value is firmly in the average range for its neighbourhood and Winnipeg overall, suggesting a stable, market-aligned investment.

The primary appeal lies in its balance and practicality. It’s a home that doesn’t stand out for extreme size or value but offers solid fundamentals: a modernized basement adds liveable space, the lot is generous for the area, and its metrics indicate it’s a typical, established property in its community. This would suit first-time buyers or downsizers looking for a manageable, low-maintenance home without major surprises, or an investor seeking a stable rental property in a mature neighbourhood. A less obvious perspective is that its "average" rankings across key metrics can be a strength, indicating lower risk and easier comparability when it comes time to sell, compared to properties with more extreme or outlier characteristics.

Frequently Asked Questions

1. How does the lot size compare to others?
While the land area is below average for Kirkfield and Greenacre Boulevard specifically, it is actually around the city-wide average. This suggests the lot is very typical for Winnipeg but may be slightly smaller than some immediate neighbours.

2. What does the sold price history indicate?
The home sold in June 2023 for an estimated $30.5k to $33.5k, which aligned closely with its assessed value at the time. This recent sale supports the current assessment and indicates stable, predictable market value without dramatic appreciation or decline.

3. Is the basement renovation reflected in the assessment?
The listing notes a renovated basement, which adds functional living space. However, the home’s assessed value remains around the neighbourhood average. This could mean the renovation maintains the home’s competitiveness rather than pushing its value into a premium tier, which is useful for a buyer’s budgeting.

4. Who would this property not suit?
It may not suit buyers seeking a large, modern floor plan, as the living area is below the city average. It also may not fit those wanting an ultra-private or expansive yard, as the lot is on the smaller side for the immediate street.

5. What is the significance of the "Top X%" rankings?
These rankings show how the property compares to peer groups. For example, its Year Built rank (Top 29% on its street) means it is newer than 71% of comparable homes on Greenacre Boulevard—a positive for a 1961 home, indicating an older surrounding housing stock. This provides nuanced context beyond just the raw number.