7 Jameswood Drive

Property Overview

7 Jameswood Drive is a one-and-a-half storey home built in 1957, offering a practical and affordable entry point into Winnipeg’s housing market. With 937 square feet of living space and an unrenovated basement, it sits on a standard city lot of approximately 5,200 square feet. The home has no garage or pool. Recent data shows it sold in late 2024 for an estimated price between $29,500 and $32,500, with an assessed value of $27,700.

Key Characteristics & Appeal

This home’s primary appeal is its value and authenticity. It is priced well below the citywide average for assessed value, representing a true starter home or investment opportunity. While its living space is modest and below the local average, it sits on a decently-sized lot in an established neighbourhood. A notable characteristic is its year of construction; it is one of the older homes on its street, which can appeal to buyers interested in classic character and simpler construction styles, though it implies a need for diligent maintenance and potential updates.

The property would suit first-time buyers comfortable with a home that may require gradual improvements, or investors looking for a rental property with a lower entry cost. Its unrenovated state offers a blank canvas for personalization without the premium of recent flips. The lack of a garage and smaller footprint also suggests it may be a good fit for downsizers or those seeking a lower-maintenance lifestyle without moving to a condo.

Frequently Asked Questions

1. What does "one-and-a-half storey" mean for this home?
This style typically features a main floor with principal rooms and a second floor under sloping roof lines, often creating cozy bedrooms with potentially reduced ceiling height in some areas. It’s a common, efficient design for mid-century homes.

2. The assessed value seems low. Is the property tax bill correspondingly low?
Generally, yes. Municipal property taxes are calculated using the assessed value, so a lower assessment typically results in a lower annual tax burden, which is a key ongoing cost savings.

3. The basement is noted as "not renovated." What condition should I expect?
You should expect a functional but unfinished space. It likely has concrete walls and floors, basic lighting, and is used for utilities, storage, and laundry. It presents future potential but would require investment to become living space.

4. How does the sold price range compare to the asking price?
The provided sold price range is based on public records. To understand the full transaction context, including the original list price and exact final sale price, you would need to request the exact history from the source.

5. The home is older than most on the street. Is that a concern?
It can be a double-edged sword. It may have more classic charm and mature landscaping, but it also likely requires a thorough inspection for aging components like the roof, plumbing, electrical, and insulation to plan for future upkeep costs.