281 Perth Avenue

Property Overview: 281 Perth Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home on Perth Avenue in the Jefferson neighbourhood presents a practical and value-conscious opportunity. Its key characteristics include a renovated basement, a detached garage, and a 1918 build date on a standard city lot. At 814 sq ft, the living space is compact, ranking below average for the area, which suggests a focus on efficient, low-maintenance living rather than spaciousness.

The primary appeal lies in its position as an affordable entry point into the Winnipeg market. With an assessed value of $260,000, it sits around average for its immediate street but notably below the city-wide average. This creates a value proposition for buyers who prioritize location and lot ownership over square footage. The renovated basement adds functional living space, a significant asset in a smaller home.

This property would best suit first-time buyers, downsizers, or pragmatic investors looking for a straightforward, lower-cost home with some updates. Its scale is manageable, and its value is grounded in the land and location rather than the size of the structure. A thoughtful perspective is that this home represents the "bones" of Winnipeg's housing stock—a century-old character home on a decent lot, offering the chance to live in the city at a relatively accessible price point, with the understanding that future value may be driven more by the land and neighbourhood than the existing structure.

Section 2: Frequently Asked Questions

1. How does the home's size compare to others?
At 814 sq ft, the living area is below the average for the Jefferson neighbourhood (approx. 1,029 sq ft) and significantly below the Winnipeg city-wide average. This indicates a compact, efficient layout.

2. Is the assessed value in line with the area?
The $260,000 assessment is around average for Perth Avenue itself but is below the average for both the Jefferson area and the city overall. This can suggest a more affordable entry point into the neighbourhood.

3. What should I consider about the age of the home?
Built in 1918, the home is older than most in its comparison groups. While it features a renovated basement, the age implies that attention should be paid to the condition of core components like the foundation, plumbing, and electrical systems, which may have been updated over time.

4. How does the lot size affect the property?
The 3,873 sq ft lot is fairly typical for the street. It provides standard outdoor space and is consistent with the neighbourhood's established character, but it is not an unusually large or sub-dividable parcel.

5. What does the sold price history indicate?
Public data shows a sale in early 2022 in the $265,000 - $295,000 range. This historical sale price, relative to the current assessed value, can provide context for market trends and should be compared with recent sales of similar homes for the most accurate current valuation.