Property Overview
This two-storey home at 690 Jackson Avenue presents a specific and compelling value proposition. Its appeal lies in being a more modern offering within its immediate neighborhood, paired with a notably low property tax assessment. The 1,040 sqft living space is above average for Jackson Avenue, and the 1962 build date makes it one of the newer homes on the street. However, the lot size is significantly smaller than typical for both the area and the city. The home features a renovated basement and does not include a garage.
This property would suit a first-time buyer or an investor seeking an entry point into the Ebby-Wentworth area with lower carrying costs. It's a practical choice for those who prioritize interior space and modern systems over outdoor land area. The compact lot means less maintenance, which could appeal to downsizers or those with a busy lifestyle, but it also limits expansion potential.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Property assessment is based on a mass appraisal system considering factors like lot size, building age, and location. The very small lot size here is the primary driver of the low assessed value, which results in lower property taxes—a key financial advantage.
2. What does "above average" living area on the street mean in practical terms?
While the home is larger than many immediate neighbors, it's essential to view this in context. At 1,040 sqft, it offers comfortable but not expansive living space. The renovated basement effectively adds usable square footage, making the home feel more functional than the main floor footprint alone might suggest.
3. Are there any concerns with a lot size that ranks in the bottom 100%?
The small lot (2,474 sqft) minimizes yard work but also limits outdoor privacy, parking options, and potential for additions like a garage or large deck. It's a trade-off: you gain affordability and lower maintenance but sacrifice outdoor space.
4. The home was last sold in April 2021. What should I consider?
The sale four years ago provides a recent market data point, but market conditions have likely changed. It’s crucial to have a current market evaluation done to understand its present value, independent of the 2021 price.
5. What are the implications of having no garage?
This means all parking will be on-driveway or street. Consider the practicality during Winnipeg winters for vehicle clearing and the long-term storage of tools, bicycles, and seasonal items. The renovated basement could partially offset this by providing ample indoor storage space.