Property Overview: 693 St. John's Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in the Inkster-Faraday neighbourhood presents a straightforward, value-oriented opportunity. Its key characteristic is its compact size, with 696 sqft of living space, which is notably smaller than most area homes. This is balanced by a renovated basement and a detached garage. The lot is a practical size at just under 4,000 sqft.
The primary appeal lies in its affordability and efficiency. With an assessed value significantly below the city average, it represents a lower barrier to entry into the Winnipeg market. The recent basement renovation adds functional living space. It’s a home that prioritizes necessity over excess, suited for a first-time buyer, an investor, or someone seeking a minimalist footprint. Its age (built in 1928) means it has character and is located in an established area, but it also implies a responsibility for ongoing maintenance typical of a near-century-old structure.
A less obvious perspective is its statistical positioning: while small city-wide, its assessed value is actually around the average for its own street and neighbourhood. This suggests it’s priced appropriately within its immediate context, not as an outlier, which can be a stabilizing factor.
Section 2: Frequently Asked Questions
1. Is the living area too small?
At 696 sqft, the main floor living area is compact. The renovated basement provides crucial additional space. This layout suits individuals, couples, or those comfortable with efficient living, but may feel tight for a growing family.
2. What does the assessed value indicate?
The assessed value is approximately $20,600, which is very low city-wide but typical for the Inkster-Faraday area. It generally reflects municipal valuation for tax purposes, not market price, but indicates a historically affordable property tax base.
3. What should I know about a home built in 1928?
While the home has stood for nearly a century, its age necessitates a focus on foundational elements during inspection: the roof, wiring, plumbing, and insulation. Its above-average age for the street could mean well-maintained character or a need for more updates.
4. How does the lot size compare?
The 3,899 sqft lot is slightly smaller than others on the street but offers a standard urban yard space. It provides room for the detached garage and outdoor use without extensive maintenance demands.
5. What is the neighbourhood like?
Inkster-Faraday is an older, established neighbourhood. The property rankings show homes here are generally more modest in size and value compared to the wider city. It’s a community of primarily working-class, no-frills housing stock.