Property Overview
This 1,217 sqft, one-and-three-quarter storey home on Belmont Avenue in Winnipeg's Jefferson neighbourhood presents a distinct value proposition. Built in 1912, it sits on a 2,498 sqft lot and features a basement that has not been renovated. There is no garage or pool.
Its primary appeal lies in its affordability, as reflected in a significantly below-average assessed value for the area. The living space is notably above average for both its immediate street and the Jefferson neighbourhood, offering more interior room than many nearby homes. This creates a unique dynamic: you get more house for your money compared to local benchmarks, but within a much older property on a smaller lot.
This home would suit a pragmatic, value-conscious buyer. It's ideal for someone willing to take on a property with older infrastructure and a basement in original condition, possibly as a long-term hold or a live-in renovation project. It could also appeal to an investor seeking a rental property with a lower entry point in a neighbourhood where comparable homes are assessed at a higher value.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on factors like the home's age (1912), the unrenovated basement, the lack of a garage, and the smaller lot size. It reflects the property's current condition and features rather than potential.
2. What does "above average" living area mean in this context?
While the home's overall assessed value is low, its 1,217 sqft of living space is larger than most homes directly on Belmont Avenue and in the wider Jefferson area. You are getting more interior square footage than is typical for similarly priced properties in this locale.
3. Are the low property taxes a permanent advantage?
Taxes are based on the assessed value. While currently an advantage, any significant renovation, addition, or a sharp rise in area property values following a sale could lead to a higher assessment and increased taxes in the future.
4. What are the implications of such an old house and an unrenovated basement?
A 114-year-old home will likely have older wiring, plumbing, and insulation. The unrenovated basement suggests fundamental systems (heating, foundation, moisture control) may be original or dated, which should be a key focus for inspection and budgeting.
5. How reliable are the sold price comparisons shown?
The listed sold price is a range from public data. For an exact historical sale price, you must request it via email from the site, as they manually verify this information from non-public sources to ensure accuracy.