Property Overview: 4-610 Jefferson Avenue, Garden City, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, 650 sqft condo unit in a well-established Garden City neighbourhood. Its most defining characteristic is its exceptionally low financial barrier to entry, with an assessed value significantly below averages for the street, area, and city. The building dates to 1960, indicating a no-frills structure likely with older building systems but potentially simpler layouts.
The appeal lies squarely in affordability and practicality. It represents a rare opportunity for minimal upfront investment in the Winnipeg market, offering a functional foothold for specific buyers. This property would suit a first-time buyer prioritizing ownership cost over space, an investor seeking a low-cost rental unit with straightforward economics, or someone looking for a minimal-maintenance residence while allocating resources elsewhere. A less obvious perspective is its potential as a "financial tool"—owning this unit could free up income for other investments or life goals, making it less about the home itself and more about the financial flexibility it provides.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than nearby averages?
The assessed value reflects the unit's smaller size (650 sqft), older building age (1960), and its specific market position as a more basic condo. It ranks in the bottom tiers for value compared to peers, which is the core driver of its affordability.
2. What should I budget for condo fees, and what do they cover?
This information is not provided in the public data. A critical next step is to obtain the condo corporation's financial statements and bylaws to understand the monthly fees, what they include (e.g., heat, water, building insurance, reserve fund contributions), and the health of the reserve fund for the aging building.
3. Is this a good investment for a rental property?
Given the low purchase price, the potential for positive cash flow is stronger than with a more expensive unit, assuming condo fees are reasonable. However, the older building may carry a higher risk of special assessments for major repairs, which can impact investment returns. Due diligence on the condo corporation is essential.
4. How does the "below average" living area affect livability?
At 650 sqft, the space is efficient and likely has one bedroom. It suits a single person, a couple, or someone who spends little time at home. It is not suited for those needing a home office, guests, or ample storage. The trade-off for price is outright space.
5. The sold price history shows a range. How can I get the exact figure?
As noted, the exact sold price is not public. You can request it directly from SaveOnHouse by providing your email. They have stated they provide this manually without using the contact for unsolicited marketing.