Property Overview & Appeal
This one-storey home at 358 Belmont Avenue is a compact, post-war property built in 1945. Its key characteristic is its modest 640 sqft living area, which is notably smaller than most homes in the Jefferson neighbourhood and Winnipeg overall. However, it sits on a standard city lot of approximately 3,800 sqft and features a renovated basement and a detached garage. Its assessed value is relatively low compared to city averages, positioning it as an accessible entry point.
The appeal lies in its simplicity and potential. It suits a very specific buyer: a first-time purchaser, an investor, or someone looking to downsize into a manageable, no-frills home. The renovated basement adds functional space, and the decent-sized lot offers room for gardening or future expansion. For the right person, it represents a pragmatic opportunity to enter the market with lower upfront costs and property taxes, focusing on essentials over square footage. Its value is in what it allows—ownership in a stable neighbourhood without a premium price tag.
Frequently Asked Questions
1. Is the house too small for practical living?
At 640 sqft, the living space is compact. It would suit a single person, a couple, or someone comfortable with efficient, minimalist living. The renovated basement provides crucial additional utility or storage 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 market position in its area. It’s actually around average for Belmont Avenue itself, indicating it’s priced in line with its immediate, similar peers.
3. What does the sold price history indicate?
The home last sold between late 2019 and early 2020 for an estimated $17.5k-$20.5k. This historical price, significantly lower than the current assessed value, highlights the property's trajectory and can provide context on market trends in the area.
4. What are the real costs and considerations of an older home like this?
While the basement is renovated, the core structure is 81 years old. Buyers should budget for potential updates to major aging components like plumbing, electrical, or the roof, which are common with homes of this era.
5. Is the detached garage a major benefit?
Yes, especially in Winnipeg. A detached garage provides secure vehicle storage and protection from winter weather, which is a significant practical advantage. It also offers additional workshop or storage space separate from the house.