Property Overview: 42 Sunway Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 42 Sunway Avenue is a compact, single-family property built in 1987, situated on a roughly 4,000 sqft lot in the Meadows neighbourhood. Its key characteristic is its modest scale: with 680 sqft of living space, it is notably smaller than most homes on its street, in the Meadows area, and across Winnipeg. This is reflected in its assessed value of $30,300, which is the lowest on Sunway Avenue.

The appeal lies in its potential as an efficient, low-cost entry point into homeownership. The very low property tax burden, due to the low assessment, is a significant financial advantage. For the right buyer, the smaller size translates to lower maintenance, utility costs, and a manageable footprint. It would suit a first-time buyer, an investor looking for a rental property, or someone seeking to downsize with minimal overhead. A less obvious perspective is that its lot size is fairly typical for its immediate street, suggesting the home may have expansion potential or simply offers a balanced outdoor space relative to its indoor size, which is uncommon for such an affordable listing.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than neighbouring homes?
The assessed value is primarily based on the home's significantly smaller living area compared to others on the street and in the area. It is functionally a different class of property in terms of size, which is directly reflected in its valuation.

2. What does the sale history indicate about the property's value?
The home sold in the $300k-$350k range in 2021 and in the $250k-$300k range in 2017. This indicates its market price has historically been much higher than its current assessed value for taxation purposes, a point important for both financing and understanding its market perception.

3. Is this a good option for someone needing a lot of space?
No. The living area is in the bottom 10-15% for the city. It is a compact layout best suited for one or two people. Buyers should be comfortable with a smaller floor plan or have a realistic budget for potential renovations to expand.

4. How does the age and condition of this home compare to others?
Built in 1987, this home is actually newer than many on its street and is above the city-wide average for age. This suggests potentially fewer immediate concerns with major aging components compared to Winnipeg's older housing stock, though a specific inspection is always needed.

5. Are the property taxes likely to be low?
Yes, absolutely. With the lowest assessed value on the street and a ranking in the bottom 30% city-wide, the municipal property tax bill for this home will be substantially lower than for most other single-family houses in Winnipeg.