Property Overview: 704 Jessie Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in the established Earl Grey neighbourhood offers a classic footprint with 1,352 sqft of living space. Built in 1912, it presents a solid opportunity for buyers drawn to character homes. Its key appeal lies in its strong positional metrics within a desirable area: both its living area and assessed value rank above average for the Earl Grey neighbourhood, suggesting it is a well-proportioned home in a good local context. The lot, at just over 3,000 sqft, is smaller than many city-wide averages but is typical for the area, offering manageable outdoor space.
This property would suit a buyer who values neighbourhood character over a brand-new build and is comfortable with a home of this era. It’s ideal for someone looking for a genuine canvas—the basement is noted as unrenovated, indicating potential for future customization or necessitating updates. The lack of a garage is a trade-off for the neighbourhood's mature setting and convenience. A thoughtful perspective for the right buyer is that a higher-than-average assessment for the area can sometimes reflect not just the home's condition, but the underlying desirability and stability of the location itself, which is a less volatile asset than finishes or appliances.
Section 2: Frequently Asked Questions
1. How does the home’s age impact a purchase?
Built in 1912, the home will have the charm and solid construction of its era, but buyers should budget for and expect age-related maintenance. A thorough inspection is essential to understand the state of major systems like wiring, plumbing, and the foundation.
2. Is the assessed value a good indicator of the sale price?
The assessed value of $380k is a municipal calculation for tax purposes. The last sale was in January 2022 for $400k. The current market price will be influenced by today’s conditions, recent updates, and buyer demand, so it serves as a benchmark rather than a guaranteed price.
3. What does "above average for the neighbourhood" really mean for living space and value?
The data indicates that for Earl Grey, this home has more living space and a higher assessed value than most comparable homes in the area. This suggests you are getting a physically larger property that the city has deemed more valuable than many of its immediate peers, which is a positive signal about the asset itself within its market.
4. What are the implications of a smaller lot size?
At 3,009 sqft, the lot is below the city-wide average but typical for Earl Grey. This means lower maintenance for yards and gardening, but also less potential for expansive outdoor living or additions. It emphasizes the home’s efficient use of space within a walkable, established community.
5. The basement is noted as "not renovated." What should I consider?
This confirms the lower level is in original or functional condition, not modernized. It presents both a cost consideration (if you wish to finish it) and an opportunity to customize the space to your needs without first undoing someone else’s renovation. It’s a key factor for your improvement budget and timeline.