Property Overview
This bi-level home at 297 Royal Avenue in Winnipeg's Jefferson neighborhood presents a specific, value-oriented opportunity. Its key appeal lies in being a relatively modern structure (built in 2007) within a market of predominantly older homes, offering move-in readiness without the immediate concerns of aging major systems. The living space (884 sq ft) is compact, and the lot size (2,400 sq ft) is notably smaller than area averages, which translates to lower maintenance demands—both in terms of interior upkeep and yard work. The home has a basement, though it is not renovated, and there is no garage or pool.
It would suit first-time buyers seeking an affordable entry into homeownership with a newer build, or practical downsizers looking to minimize ongoing maintenance and property chores. Investors may also see value in a modern property with steady rental appeal in a well-established area. A less obvious perspective is that the smaller lot and efficient footprint could align well with a minimalist or environmentally conscious lifestyle, focusing on utility over expansiveness.
Frequently Asked Questions
1. Is this a good value for the price?
Based on the assessed value and recent sold price data, this property sits around the average for its immediate street and neighborhood, but below the city-wide average. The value is primarily in the modern year of construction compared to surrounding homes.
2. What are the main compromises with this property?
The primary trade-offs are space, both indoors and outdoors. The living area and land area are significantly below local averages. There is also no garage, which is a consideration for vehicle storage and winter weather.
3. How does the age of this home compare to others nearby?
This is a standout feature. Built in 2007, it is newer than approximately 90% of homes on its street and 96% of homes in the Jefferson area, making it a notably modern property in an older neighborhood.
4. What is the potential for expansion or adding a garage?
The potential may be limited due to the smaller lot size. Any significant expansion or addition would require careful review of zoning bylaws and lot coverage rules, as there is less land to work with than on a typical property.
5. Where can I find the exact historical sold prices?
The exact sold prices are not publicly displayed in detail. The listing service offers to provide this precise history via email upon request, which they handle manually without using the contact for unsolicited marketing.