Property Summary: 225 Royal Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1948, situated on a notably large lot in the Jefferson neighbourhood. Its primary appeal lies in the significant land size—over 6,400 sqft—which ranks in the top 4% of the local area, offering ample outdoor space and future potential in a city where lot size is often a premium. The home itself is modest at 720 sqft of living space with a renovated basement and a detached garage. While the living area is below average for the city, its assessed value is competitive for the street and neighbourhood.
This property would suit a practical, value-oriented buyer. It's ideal for someone who prioritizes land over square footage, such as a first-time buyer comfortable with a cozy layout, an investor looking for a property with redevelopment potential due to the lot size, or a downsizer seeking a manageable home with generous outdoor space for gardening or entertaining. Its appeal is grounded in opportunity rather than immediate luxury.
Frequently Asked Questions
1. Is the house in good condition?
The listing notes a renovated basement, which is a positive update. As a home built in 1948, prospective buyers should budget for a thorough inspection to assess the condition of major aging components like the roof, plumbing, and electrical systems.
2. Why is the assessed value much lower than some of the average comparisons shown?
The assessed value is a municipal valuation for tax purposes, not a market price. The averages shown in the data (e.g., $390k city-wide) are for comparable homes in its ranking group, not direct sales comparisons. The actual recent sold price range for this home was between $275k and $305k in late 2023, which aligns more closely with its assessed value.
3. What can I do with such a large lot?
The expansive lot is the standout feature. It provides room for large gardens, recreational space, or future additions like a shed, workshop, or expanded deck. In the long term, the lot size may also make the property attractive for redevelopment, subject to local zoning bylaws.
4. How does the living space feel for a modern household?
At 720 sqft above grade, the living area is compact. The renovated basement adds functional space, but the main floor layout will be cozy. It suits individuals, couples, or small families who prioritize efficient living and are comfortable with creative space solutions.
5. How do the rankings and percentages work?
These metrics show how this property compares to others. For example, "Top 4%" for land area in Jefferson means 96% of comparable homes in the neighbourhood have a smaller lot. Conversely, "Top 85%" for living area means only 15% of homes in Jefferson are smaller, indicating its below-average size for the area.