Property Overview & Appeal
This 980 sqft condominium at 1-540 Jessie Avenue is a modern, low-maintenance home in Winnipeg's established Earl Grey neighbourhood. Built in 2014, it stands out in the area for its newer construction, offering contemporary systems and minimal immediate repair concerns. Its appeal lies in this move-in-ready quality combined with a renovated basement, adding functional space. The unit presents a specific value proposition: while its living space and assessed value are below average for Jessie Avenue itself, they are notably above average when compared to the broader, typically older housing stock in Earl Grey. This positions it as a modern alternative within a classic neighbourhood.
It would best suit first-time buyers, downsizers, or investors seeking a relatively new property without the upkeep of a house. It’s ideal for someone who values the character and location of Earl Grey but prefers the convenience and newer build of a condo. A thoughtful perspective is that this property offers a compromise—you trade the larger square footage found in some neighbouring units for the advantages of a more recent build and a renovated lower level, which can be a prudent trade-off for those wary of aging-home maintenance costs.
Frequently Asked Questions
1. How does this condo compare in size and value to its neighbours?
While it is one of the smaller and lower-assessed units on Jessie Avenue, it is larger and has a higher assessed value than the majority of homes in the wider Earl Grey area. This highlights its position as a newer, condensed option in a neighbourhood of older, often larger houses.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This is a key detail to clarify with the listing agent to understand the full usable living space and quality of the renovation.
3. Is this a good investment compared to an older house in the same area?
Its 2014 build date means major components like roofing, windows, and mechanical systems are likely in good condition, potentially reducing near-term capital expenditures compared to the area's average home built in 1974. This can be a significant factor for cost-conscious buyers.
4. What are the condo fees or association rules?
This information is not provided in the data. Understanding monthly fees, what they cover, and the condo corporation's rules is essential for budgeting and lifestyle compatibility.
5. Why was the last sale price so much higher than the current assessed value?
The property sold for $280,000 in 2019. The current assessed value for taxation purposes is $26,900. It's important to understand that municipal assessed value is not market value; the sale price will be determined by current market conditions, not the tax assessment.