Property Overview
This 652 sqft, one-storey home on a 4,746 sqft lot at 390 Rupertsland Avenue presents a specific and practical opportunity. Built in 1948, it features a renovated basement and a detached garage. The data indicates it is a compact home, with living space significantly below averages for its street, neighborhood, and city. Its assessed value is notably low relative to broader city averages, suggesting a potentially accessible entry point. The lot size is fairly typical for the Jefferson area. Recent sale history shows it changed hands in early 2023.
Key Characteristics & Appeal
This property’s primary appeal lies in its simplicity and affordability. It is a classic, no-frills starter home or investment property. The renovated basement adds functional living space, a key upgrade in a home of this size. Its compact nature means lower utility costs and minimal upkeep, suiting a first-time buyer, a downsizer, or an investor looking for a manageable rental.
A thoughtful perspective is that this home represents a "blank canvas" within an established neighborhood. While smaller than most, it sits on a standard-sized lot, offering outdoor space and potential for future expansion, subject to permits and feasibility. It perfectly suits a buyer whose priority is securing a foothold in the market with a straightforward, renovated property, rather than seeking abundant finished space. The low assessment, while reflecting its size and likely basic finishes, also suggests a correspondingly lower property tax burden.
Frequently Asked Questions
1. Is the house too small?
At 652 sqft above grade, it is compact. The renovated basement provides crucial additional space. It is best suited for individuals, couples, or small families comfortable with efficient living.
2. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the home’s relatively small size, age, and likely basic condition compared to the broader Winnipeg market, which includes many larger, newer homes. It is more in line with averages for the immediate Jefferson area.
3. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. This should be a key point for inquiry to understand the finish quality, ceiling height, legal compliance, and whether it includes a separate entrance or rental suite potential.
4. What is the potential for future expansion?
The lot size is standard for the area. While the existing footprint is small, there may be potential to expand the main floor or add a second storey, depending on local zoning bylaws and building codes. A professional assessment would be necessary.
5. How stable is the value in this area?
The recent sale in 2023 and the consistent, below-average assessed values for similar homes on the street suggest a stable, low-volatility market segment. This can represent a lower-risk entry point, with value growth typically tied more to neighborhood trends and overall market conditions than to the property's premium features.