Property Overview: 562 Springfield Road, Winnipeg

Key Characteristics & Appeal

This home at 562 Springfield Road in the Rossmere-A neighborhood presents a practical and value-oriented opportunity. Its primary appeal lies in its modern build year and manageable scale within a well-established area.

The standout feature is the 1994 construction, which is significantly newer than most homes on its street and in the wider Rossmere-A community. This suggests potentially fewer immediate concerns with aging major systems compared to the area's predominantly 1960s and 1970s builds. With 720 sqft of living space, the house is compact—ranking below average in size for the street, neighborhood, and city. This makes it a true starter home or a downsizing option, suited for individuals, couples, or small families seeking low-maintenance living.

The municipal tax assessment of $320,000 is very close to the local average, indicating the property is priced in line with its immediate surroundings. The lot size of 3,710 sqft is smaller than typical but provides a manageable yard. Recent comparable sales on Springfield Road suggest a transaction price in the $350,000-$400,000 range.

This property would best suit first-time buyers looking for a modern foundation in a mature neighborhood, or investors seeking a relatively newer rental property with lower upkeep. Its value proposition is not in size or luxury, but in the efficiency and relative newness of the structure itself.

Frequently Asked Questions

1. Is the living space too small?
At 720 sqft, the home is certainly compact. It is best viewed as a functional starter home or a minimalist living space. Buyers should prioritize efficient use of space and consider if the layout meets their basic needs.

2. What are the advantages of the 1994 build year?
A build year from the 1990s often means updated electrical wiring (like 100-amp service or better), more modern plumbing, and insulation standards that surpass those of mid-century homes. This can translate to lower immediate repair costs and better energy efficiency than older neighbors.

3. How does the smaller lot size impact me?
The smaller, sub-4,000 sqft lot means less yard maintenance, which can be a benefit for those seeking a low-upkeep property. However, it also offers less private outdoor space and potential for expansion compared to larger lots in the area.

4. The assessment is $320,000, but recent sales are higher. What should I offer?
The tax assessment is for municipal taxation purposes and often lags behind the current market. The recent sales data suggests a competitive market price. Determining a fair offer should be based on a professional appraisal, a thorough home inspection, and comparison to recently sold properties, not the assessment value alone.

5. What is the neighborhood like?
Rossmere-A is a long-established, quiet residential community in northeast Winnipeg. It offers the stability of mature streetscapes and is typically attractive to those seeking a straightforward, suburban-style living environment without the premium price of newer developments.