Property Summary: 345 Belmont Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This well-maintained one-storey home on Belmont Avenue offers a practical footprint of 900 sqft, which is typical for the immediate street and neighborhood. Its key updated feature is a renovated basement, adding valuable finished living space. The detached garage provides flexible storage or workshop potential. Built in 1946, the home presents a classic character while the renovation suggests modern livability.
The appeal lies in its strong value proposition within the local Jefferson area. The home’s assessed value ranks notably above average for both the street and the neighborhood, indicating it is viewed favorably relative to its peers. This, combined with its recent updates, positions it as a turnkey property in a stable, established community. The lot, while smaller than the city average, is a manageable size for low-maintenance outdoor living.
This property would best suit first-time homebuyers, downsizers, or pragmatic investors seeking a move-in-ready home without a premium price tag. It’s for those who value a quiet, mature neighborhood over a sprawling lot, and who appreciate the financial efficiency of a home that already has key renovations addressed.
Frequently Asked Questions
1. How does the home’s value compare to recent sales?
Based on available data, the last two recorded sales were in 2019 and 2017, with prices in the mid-$20k range. The current assessed value of $30.9k is higher, reflecting market changes and the renovated condition.
2. Is the living space sufficient for a growing family?
At 900 sqft above grade, the space is compact. The renovated basement effectively doubles the usable living area, making it more functional for a small family, but the main floor layout is best suited for individuals, couples, or a small family.
3. What does the "above average" assessed value ranking mean for taxes?
While the assessed value is strong for the area, property taxes are calculated using a mill rate applied to this value. A higher assessment relative to neighbors generally means a proportionally higher tax bill, so this should be factored into the budget.
4. Are there any concerns with a home built in 1946?
The renovated basement is a significant update. However, prospective buyers should still have a thorough inspection to evaluate the condition of original core components, such as the roof, plumbing, electrical systems, and foundation, which may be nearing or past their typical lifespan.
5. How does the lot size impact future plans?
The 3,282 sqft lot is smaller than many in Winnipeg. This limits potential for large additions or pools but also means less yard maintenance. It’s ideal for someone wanting a private outdoor space without extensive upkeep. Any expansion plans would need to carefully consider setback requirements.