Property Overview & Key Characteristics
This one-storey home on a spacious 3,871 sqft lot in Winnipeg's Jefferson neighbourhood presents a classic character home opportunity. Built in 1926, its key appeal lies in its generous land size, which ranks within the top quarter for the street, offering potential for expansion, gardening, or outdoor living. With 806 sqft of living space, the home is compact but efficient, and it features an unrenovated basement, providing a blank canvas for future development. The property’s assessed value of $240k aligns with the local market, and its last sale in 2019 was significantly lower, indicating potential equity growth.
Its appeal is grounded in value and potential. It suits a first-time buyer looking for an entry point into homeownership with room to grow, an investor interested in a property with solid land value, or a hands-on individual eager to customize a home over time. A less obvious perspective is that, while older, the home’s construction year is actually newer than many in the immediate area and across Winnipeg, which can be a positive for structural integrity. The lot size is a standout feature not easily replicated in newer subdivisions.
Frequently Asked Questions
1. What does "unrenovated basement" typically mean for a house of this age?
It generally indicates the basement retains its original state. Buyers should budget for potential updates to flooring, lighting, and possibly moisture management, but it also means there are no poorly executed DIY renovations to undo.
2. The home last sold in 2019 for much less than the current assessed value. Is that a concern?
Not necessarily. This primarily reflects the strong market appreciation between 2019 and the present assessment period. It underscores the property's increased market value, but due diligence on the current local market conditions is always recommended.
3. Who is responsible for verifying the property's exact boundaries?
While the listing provides the lot area, the exact boundaries are not verified by the listing data. A buyer should always review the property survey, typically obtained during the lawyer's review process, to confirm dimensions and any potential encroachments.
4. There's no garage. How is parking for this property?
The listing notes no garage, so parking is likely via a driveway or on-street. Checking the specific street for parking regulations and observing the typical parking setup during a viewing would be prudent.
5. How do the "rank" percentages work?
These ranks compare this property against others on the same street, in the neighbourhood, and across Winnipeg. For example, a "Top 24%" rank for lot size in Winnipeg means this property's lot is larger than 76% of all lots in the city, highlighting its relative scarcity and value.