Property Overview: 403 Royal Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This is a modest, renovated one-storey home in Winnipeg's Jefferson neighbourhood, built in 1956. With 988 sqft of living space and a 4,331 sqft lot, its size is very typical for its immediate street and area, offering a manageable footprint. A key feature is the renovated basement, adding functional living space. The home sits in the middle range for its locale in terms of assessed value and lot size, presenting a straightforward, no-surprises profile within the community context.
Its primary appeal lies in its role as a practical entry point into the housing market or a sensible downsizing option. For buyers, the value is in its relative affordability compared to the city-wide average, its recent basement renovation, and its position as an average-sized property on its street—meaning it’s unlikely to be over-improved or under-improved relative to neighbours. It would suit first-time buyers seeking a turn-key starter home without extreme property taxes, or investors looking for a renovated, single-level rental property. A thoughtful perspective is that its "average" metrics within Jefferson can be a stability advantage, insulating it from the wider volatility of the city-wide market, where it falls below average in size.
Frequently Asked Questions
1. How does this home’s size compare to others?
At 988 sqft, the living area is very close to the average for both Royal Avenue (1,049 sqft) and the wider Jefferson area (1,029 sqft). City-wide, however, it is notably smaller than the average home.
2. What is the significance of the assessed value?
The assessed value of approximately $302,000 is around the average for the street and neighbourhood. This suggests the property is valued consistently with its immediate surroundings, which can be a positive indicator for stable property taxes and resale value within the local market.
3. What does the sold price history indicate?
Records show it last sold in October 2023 for an estimated range of $235,000 to $265,000. This is below its current assessed value, which may reflect market conditions at the time of sale or specific sale circumstances. For the exact price, you can request details via email from the listing source.
4. Is the lot size a pro or a con?
The lot is just under a tenth of an acre, which is standard for the area. It provides adequate outdoor space for a garden or patio without the maintenance burden of a larger yard, aligning well with the home’s manageable scale.
5. Who might this property not suit?
Buyers needing significant space or modern, open-concept layouts may find it limiting. Its size and era-typical layout are best for those comfortable with a compact, efficient footprint. It’s also less suited for someone seeking a property that stands out significantly in its neighbourhood, as its metrics are consistently in the middle range locally.