Property Overview: 281 Semple Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1915, presents a classic character property with a practical footprint. Its key appeal lies in its above-average living space (1,320 sq ft) for both its immediate street and the Jefferson neighbourhood, offering more room than many comparable homes. The property sits on a standard city lot (4,641 sq ft) and features a basement, though it is noted as not being renovated.
The most defining characteristic is its significantly low municipal assessed value ($19,300), which places it in the bottom tier locally and citywide. This creates a distinct proposition: it is a larger-than-average home in its area at a very low official valuation. This combination would suit value-conscious buyers looking for a project home with space to grow into, or investors focused on fundamental value and potential long-term assessment increases. It’s less suited for those seeking a move-in-ready home or who prioritize modern builds and amenities. A thoughtful perspective is that this property represents a "blank canvas" opportunity in a mature neighbourhood, where the value is in the physical structure and land rather than in recent upgrades or high official appraisal.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than typical homes?
Extremely low assessments like this often stem from a lack of major renovations over time, specific property conditions, or a historical pattern in the area. It reflects the city’s valuation for tax purposes, not necessarily the market sale price.
2. What does "basement, not renovated" imply?
This typically indicates an original or functional basement space that has not been modernized or finished as living space. Buyers should budget for potential updates and consider it usable storage or utility space as-is.
3. How does the recent sale price compare to the assessment?
The home sold in September 2022 for an estimated $22,500-$25,500, which was close to its assessed value at the time. This suggests a market where sale prices can align closely with these low assessments.
4. Is the larger living area a positive sign?
Yes. The home offers substantially more interior space than many neighbours, which is a key asset. This means any investment in renovations is applied to a home with a more spacious layout than is typical for the street.
5. What should I consider about a 1915-built home?
Homes of this age possess character but require a diligent inspection for foundational integrity, historical wiring or plumbing, and overall upkeep. Their charm and solid construction are appealing, but maintenance and modernization are expected ongoing considerations.