Property Overview
This one-storey home at 336 Smithfield Avenue in Winnipeg's Jefferson neighbourhood presents a specific and practical value proposition. Its key appeal lies in being an affordable, low-maintenance entry point into homeownership. The 720 sqft living area is compact, placing it well below average size for the street, area, and city, which suggests a focus on efficiency over space. However, it features a renovated basement and sits on a decent-sized lot (4,743 sqft) that is quite typical for Jefferson. Built in 1948, its age is standard for the area. The recent sale in March 2025 for approximately $30.5k–$33.5k, alongside an assessed value around $28.6k, indicates a stable, low-cost market segment.
This property would suit a first-time buyer or an investor seeking a straightforward, budget-conscious purchase. Its modest size and single level could also appeal to someone looking to downsize or minimize upkeep. The renovated basement adds functional living space, which is a significant plus given the smaller main floor. It’s a home for those prioritizing financial accessibility and practicality, not expansive living areas.
Frequently Asked Questions
1. Is this a "tiny home"?
While its 720 sqft living area is significantly smaller than local averages, it isn't typically classified as a modern "tiny home." It's a compact, traditional one-storey house, likely with a standard layout, but its size does demand efficient use of space.
2. What does the "renovated basement" include?
The listing notes a renovated basement but does not specify the scope. It's important to inquire about the finish quality, ceiling height, necessary permits, and whether it includes a separate entrance, legal suite potential, or additional bedrooms.
3. Why is the sale price so much higher than the assessed value?
The assessed value ($28.6k) is for municipal tax purposes and often lags behind the current market. The recent sale price range ($30.5k–$33.5k) reflects what a buyer was willing to pay in the open market, indicating perceived value or competitive conditions at the time of sale.
4. How does the lot size impact future potential?
At 4,743 sqft, the lot is slightly below average for the street but typical for Jefferson. This size could allow for yard space, gardening, or modest outdoor living. For future development, such as an addition or garage, you would need to verify specific zoning bylaws and setback requirements.
5. Are there any concerns with a house built in 1948?
Homes of this age may have older building materials and systems. A thorough inspection is crucial to check the condition of the foundation, plumbing, electrical wiring, insulation, and windows. The renovated basement should be closely examined for proper moisture control and updates to these core systems.