367 Royal Avenue

Property Overview: 367 Royal Avenue, Winnipeg

Key Characteristics & Appeal

This 2021-built bi-level home at 367 Royal Avenue in Jefferson offers a compelling mix of modern convenience and value. Its key characteristic is its newness; built just five years ago, it is a standout modern property on a street and in a neighbourhood where the average home is decades older. This translates to appealing contemporary construction, likely with updated systems and minimal immediate maintenance needs.

The home’s primary appeal lies in this modern foundation paired with a recently renovated basement, adding valuable finished living space to the 933 sqft footprint. While the living area is modest and the lot size is smaller than typical for the area, these factors contribute to a relatively accessible price point. The property’s assessed value is notably strong for its immediate vicinity, suggesting it is viewed as a premium asset on its street.

This home would suit first-time buyers or downsizers seeking a low-maintenance, modern property without the premium of a brand-new build. It’s also a practical choice for value-conscious investors looking for a newer rental property in a stable neighbourhood. The smaller yard is a trade-off for the modern interior, making it less ideal for those prioritizing extensive outdoor space.

Frequently Asked Questions

1. Why is the assessed value so high compared to the street average?
The assessed value reflects the home’s very recent build year (2021) and renovated condition compared to the much older average home on Royal Avenue. It’s assessed as a modern asset, which commands a premium in this context.

2. What does the "below average" land area mean for me?
The lot is approximately 2,400 sqft, which is smaller than most in Jefferson. This means lower yard maintenance but less private outdoor space. It’s a efficient, compact parcel that aligns with the home’s modern and low-maintenance profile.

3. The home sold in 2022. Is there a reason for a potential quick turnaround?
The 2022 sale likely represents the first re-sale of the newly built home. Such a quick turnaround isn’t uncommon and could be due to many personal circumstances (relocation, life changes) rather than a property-specific issue, especially given the continued high assessment.

4. How does the living space compare practically?
At 933 sqft plus a renovated basement, the home offers efficient, modern living space. It’s larger than some nearby comparables but below the city average. It’s well-suited for individuals, couples, or small families who prioritize quality and newness over sheer size.

5. Is the lack of a garage a significant drawback?
The property has no garage, which is common for many homes in the area. Buyers should consider on-street parking or the potential cost of adding a driveway or parking pad if dedicated off-street parking is a priority.