Property Overview: 682 St John's Avenue
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a practical opportunity in Winnipeg's Inkster-Faraday neighbourhood. With 1,073 sqft of living space and a renovated basement, it offers functional living on a 3,685 sqft lot. Its primary appeal lies in its strong value proposition within its immediate context. While its size is modest compared to the city-wide average, the property's assessed value ranks notably above average for both its street and neighbourhood, suggesting it is viewed as a solid asset in its local market. This creates an interesting dynamic: a home that is historically and physically typical for the area but stands out in terms of its official valuation.
The home would suit first-time buyers or practical investors looking for an entry point into the Winnipeg market without the premium of a newer build or larger lot. Its renovated basement adds modern utility to the classic layout. A thoughtful perspective is that this property represents a "neighbourhood anchor"—it doesn't lead the market in size or newness, but its above-average assessment for the area indicates a perceived stability and desirability that can be appealing for those prioritizing long-term value over flashier features.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home was last sold in June 2020 for an estimated range of $175k-$205k. Its current assessed value is $22,400 (or $224,000, following the common Winnipeg practice of displaying values in "000s"). This indicates the assessment is broadly in line with or slightly above that recent sale price, reflecting market increases.
2. Is the living space smaller than other homes nearby?
Yes, but with important context. At 1,073 sqft, it is below the average for homes on St. John's Avenue itself (~1,325 sqft). However, it is very close to the average for similar homes in the wider Inkster-Faraday neighbourhood (~1,025 sqft), making it a typical size for this specific community.
3. What does the "above average" assessed value ranking mean?
This means that, compared to similar properties on its street and in its neighbourhood, this home has a higher official assessed value than most. On St. John's Avenue, it ranks in the top 22%. This could be due to factors like its renovated basement, condition, or specific location advantages.
4. Are there any garage or parking facilities?
No. The listing specifies there is no garage. Buyers should consider on-street parking or the potential to add a driveway or parking pad, subject to local bylaws.
5. The home is over 100 years old. What should I be mindful of?
While the basement has been renovated, a 1914 build requires a diligent inspection. Focus should be on the foundation, original plumbing and electrical updates, roof condition, and overall structural integrity. Its age is typical for the area, but proactive maintenance is key.