Property Overview
This one-and-a-half storey home on Belmont Avenue is a classic Winnipeg character property built in 1917. With 858 square feet of living space and an unfinished basement, it sits on a modest 2,498 sqft lot. Its key metrics—living area, assessed value, year built, and land size—consistently rank below average compared to its immediate street, the Jefferson neighbourhood, and the city overall. The home last sold in March 2022. Its appeal lies in its position as an affordable entry point into the market, offering the chance to own a standalone house rather than a condo. It suits buyers looking for a straightforward project home without major renovations already completed, ideal for an investor, a first-time buyer comfortable with a "blank canvas," or someone seeking minimal monthly property tax obligations due to its low assessed value.
A thoughtful perspective is that this property represents a specific segment of the market: the original, unexpanded worker’s cottage. Its below-average size in every category isn't necessarily a drawback but a clear definition of its scope, setting accurate expectations for buyers seeking a manageable footprint. Its value is fundamentally in the land and the structure's potential, not in modern updates or ample space.
Frequently Asked Questions
1. Why is the assessed value so much lower than typical city homes?
Assessed value is for municipal tax purposes and is influenced by the home's age, size, condition, and recent sales in the area. This home's modest size, older age, and lack of recent high-end renovations result in a lower assessment, which translates to lower annual property taxes.
2. What does "one-and-a-half storey" mean for this house?
Typically, this style features a full main floor and a second floor under sloping roof lines, often with cozy bedrooms in the eaves. It's a common design for homes of this era and may mean that some second-floor space has lower ceiling heights.
3. Is the unfinished basement a pro or a con?
It depends on the buyer. It's a con for those wanting move-in-ready, finished space. It's a pro for those who want to customize the layout, ensure proper insulation and moisture control from the start, or who simply need dry storage and mechanicals without the cost of undoing someone else's subpar renovation.
4. The home sold recently in 2022. What should I consider?
The previous owner held it for a relatively short time. It’s wise to inquire about any work done during that period and the reason for selling. Given the price point and description, it was likely owned as an investment or held with minimal changes.
5. How meaningful are the "below average" rankings for this property?
They are very meaningful for setting realistic expectations. This home is smaller and on a smaller lot than most in Winnipeg. However, these rankings are neutral data points; for a buyer seeking an affordable, character home without paying for extra size or modern assessments they don't need, these "below average" stats are what make the property accessible.