Property Overview
This one-storey home at 315 Semple Avenue in Winnipeg's Jefferson neighborhood presents a practical opportunity centered on its generous lot and solid positioning within its local market. Its key appeal lies not in extravagance, but in offering above-average space and value for the area, particularly for those who prioritize land over a large footprint.
Key Characteristics & Ideal Buyer
The home itself is a modest 1,146 sqft bungalow built in 1957, featuring a renovated basement and a detached garage. Its true standout feature is the 7,732 sqft lot, which ranks in the top 3% on its street and top 1% in Jefferson—offering significant outdoor space that is increasingly rare. The assessed value of $35,600 is notably above average for both the street and the neighborhood, suggesting the property is viewed favorably relative to its peers. While the living area is comfortable and above the local average, the home's age means potential buyers should be mindful of the condition of major systems.
This property would suit a first-time buyer or a downsizer looking for a manageable single-level layout in an established area, who values a large yard for gardening, pets, or future expansion more than a recently built home. It’s also a sensible fit for a value-oriented investor attracted by its strong assessed value ranking and the enduring appeal of a large lot.
Frequently Asked Questions
1. What does the "above average" assessed value ranking mean for me?
It indicates that, according to municipal assessment, this property holds more value relative to most homes immediately around it. This can be a marker of stability but does not directly predict future sale price.
2. The home is older. Has the renovation addressed major concerns?
While the basement is noted as renovated, the listing does not specify the extent or the age of updates to critical components like roof, plumbing, electrical, or foundation. An inspection is highly recommended.
3. How usable is such a large lot?
The nearly 7,800 sqft lot offers excellent potential for outdoor living, gardening, or adding a shed. It’s worth checking municipal bylaws for any restrictions on additions, fences, or secondary suites to understand its full potential.
4. The last sold price range shows $23.5k-$26.5k in 2020. Why is the assessed value now higher?
The assessed value is for taxation purposes and reflects the municipality's opinion of value relative to similar properties. Market sale prices can differ. The increase suggests the property's relative worth within the area has risen in the assessor's model.
5. What are the practical implications of the "detached" garage?
A detached garage provides flexible storage and workshop space separate from the house. Consider its condition, the walk to it during Winnipeg winters, and whether the driveway allows for sufficient parking.