Property Overview: 640 St John's Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1910, presents a classic Winnipeg character property on a standard city lot. Its key appeal lies in its position as a modest, entry-level home in a mature neighbourhood. With 928 square feet of living space and an unrenovated basement, it offers a straightforward canvas. The detached garage adds practical storage or workshop potential.
The home’s standout feature is its financial profile. Its assessed value is notably low compared to the Winnipeg city-wide average, suggesting a potentially accessible price point and corresponding property taxes. This creates an opportunity for first-time buyers, investors, or those seeking a lower-cost foothold in the city. It suits a buyer comfortable with a home that is smaller and older than the city average, who values function and affordability over modern finishes or size, and who may see potential in the existing structure or land.
A less obvious perspective is its relative standing within its immediate locale. While its size is below average for St. John's Avenue, its assessed value is typical for the street. This indicates it fits the financial fabric of the neighbourhood, potentially offering community continuity without standing out as an outlier in value.
Section 2: Frequently Asked Questions
1. Is this a "fixer-upper"?
The listing notes the basement is unrenovated. While the main living areas may be liveable, the age of the home (116 years) means buyers should budget for ongoing maintenance and potential updates to mechanical systems, insulation, or windows.
2. How do the property taxes compare?
Given the assessed value is significantly below the city-wide average, the municipal property taxes are likely correspondingly lower. This is a key factor in ongoing affordability.
3. What is the neighbourhood like?
It's located in the established Inkster-Faraday area. The similar assessed values of nearby homes suggest a consistent, modest economic profile. Buyers should visit at different times to gauge traffic, noise, and neighbourhood activity.
4. Why is the living area smaller than average?
At 928 sq ft, it's a compact home. This is characteristic of many early 20th-century houses and reflects a different era of home design. It necessitates efficient use of space.
5. What does the sold price history indicate?
The last recorded sale range (2016) is close to the current assessed value. To understand true market value, researching recent sales of comparable homes in Inkster-Faraday is essential, as the assessed value is for taxation, not necessarily market price.