Property Summary: 246 Forrest Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, renovated one-storey home in the Jefferson neighbourhood, built in 1947. With 825 sqft of living space and a detached garage, it sits on a standard city lot of just over 4,300 sqft. The home’s key updated feature is its renovated basement, adding functional space. The data reveals a property that is consistently average or slightly below average for its immediate street and neighbourhood in terms of size, value, and lot dimensions, but sits well below the city-wide averages for living space and assessed value. This positioning is central to its appeal: it represents an affordable, manageable entry point into the Winnipeg market with recent updates. It would suit first-time buyers, downsizers, or practical investors looking for a low-maintenance, updated property without the premium of a larger or newer home. A thoughtful perspective is that its "average for the area" status offers stability and predictability, reducing the risk of being over-improved for the block, while the renovated basement provides immediate utility without a project list for the new owner.
Frequently Asked Questions
1. What does the assessed value tell me about the likely selling price?
The assessed value is a municipal figure for tax purposes and is often lower than market value. Recent sold prices on the same street can be a more direct guide, but market conditions ultimately determine the final price.
2. Is the living space too small?
At 825 sqft, it is notably smaller than the Winnipeg average. However, it is close to the average for Forrest Avenue itself. This makes it a right-sized home for the specific block and ideal for those seeking efficient, easy-to-maintain living space.
3. What are the advantages of a home built in 1947?
Homes from this era often feature solid construction and simpler, more adaptable floor plans. The recent basement renovation also means a major component has been modernized, potentially addressing common concerns with older foundations.
4. How does the detached garage impact the property?
A detached garage offers flexibility—it can be used for parking, storage, or as a workshop without concerns about fumes or noise in the house. It may also provide future potential for the lot, though local bylaws would apply.
5. The data shows it ranks "below average" city-wide. Is that a concern?
Not necessarily. This primarily reflects the home’s modest size and value compared to the entire city, which includes many newer, larger suburbs. Within its established neighbourhood and on its own street, it is competitive and typical, which can be a sign of a stable, integrated property.