Property Overview
This 1930s one-storey home on a generous 4,637 sqft lot in Jefferson presents a specific and compelling value proposition. Its key appeal lies in its position as an accessible entry point into the Winnipeg market. With a notably compact living space of 590 sqft and a recently renovated basement, it prioritizes efficient, low-maintenance living over square footage. The detached garage and larger-than-average lot for the area offer practical utility and future potential. The home’s assessed value is consistently below average for its immediate street, neighborhood, and city-wide, indicating a lower property tax burden.
It would suit a first-time buyer, an investor, or someone looking to downsize significantly, seeking minimal upkeep and a focus on location and land value over interior size. A thoughtful perspective is that this property represents a "land play with a house included"—the value is anchored more in the lot than the structure, which could appeal to those with long-term vision.
Frequently Asked Questions
1. Is the living area too small for comfortable living?
At 590 sqft, the main floor living area is compact. It would suit a single person, a couple, or someone who uses their home as a base and lives actively elsewhere. The renovated basement provides crucial additional flexible space.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and specific local market conditions in Jefferson. A lower assessment typically translates to lower annual property taxes, which is a tangible financial benefit.
3. What does the "below average" ranking for living area mean?
The rankings compare this home to others. Its living area is in the bottom 3% city-wide, meaning it is significantly smaller than most Winnipeg homes. This isn't a flaw, but a defining characteristic that influences its price and appeal.
4. Could this be a good investment property?
Given its low entry price and assessed value, it could be a candidate for a rental property, with the renovated basement potentially allowing for separate income. Investors should carefully analyze local rental rates and regulations.
5. What are the implications of the home being built in 1930?
While the systems and structure may have been updated over time, a home of this age may require careful inspection for foundational integrity, wiring, and plumbing. Its character and lot size, however, are benefits of an older neighborhood.