Property Overview
776 Jessie Avenue is a modern, two-storey home in Winnipeg's established Earl Grey neighbourhood. Built in 2019, it offers nearly 1,900 sqft of living space, placing it well above average in size for both the street and the area. The property features a detached garage and an unrenovated basement. Its standout characteristic is a remarkably low assessed value of $63,500, which ranks in the top 1% of homes on its street and in Earl Grey, suggesting significant potential value relative to its municipal tax assessment.
The appeal lies in the combination of a contemporary, low-maintenance home within a mature, central community. It suits practical buyers looking for modern comforts without the upkeep of a century home, as well as value-focused investors or purchasers who understand the potential long-term advantage of a low assessed value in a desirable area. It’s a less common find: a new build that offers immediate livability in a neighbourhood not typically known for recent construction.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical market prices?
Municipal assessed value is used for property tax calculation and often lags behind current market value, especially for newer homes. This significant discrepancy can represent a potential advantage for property tax costs.
2. What does "basement not renovated" mean?
It indicates the lower level is unfinished. This presents a blank canvas for future expansion, adding living space or storage, but requires investment to realize its full potential.
3. How does the land size compare?
At just under 3,600 sqft, the lot is average for Jessie Avenue and above average for Earl Grey, but below the city-wide average. This means smaller yard maintenance, which many modern buyers prefer, but less private outdoor space than some older properties in the area.
4. Is the 2020 sale price relevant today?
The sale price of $515,000 from June 2020 provides a historical benchmark, but current market conditions have likely shifted. It should be considered a data point, not an indicator of today's value.
5. Who would this home not suit?
It may not suit buyers seeking a character-filled heritage home, as it's a modern build. Those wanting a move-in-ready finished basement or a very large, private yard might also want to consider other options.