408 Jefferson Avenue

Property Overview: 408 Jefferson Avenue, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This one-and-a-half storey home, built in 1948, presents a practical and renovated living space in the Jefferson neighbourhood. With 1,050 sqft of living area and a recently updated basement, the home offers functional, modernized space. Its detached garage and a 3,998 sqft lot provide valuable outdoor and storage utility. The home’s assessed value of $270k positions it as a competitively priced option within its immediate area, often ranking around average for Jefferson Street but below the wider city average, suggesting relative affordability in this locale.

The primary appeal lies in its balance of updated essentials within a classic home structure, suited for those seeking a straightforward, no-frills property. It would particularly suit first-time homebuyers or practical investors looking for a turnkey-ready base in a mature neighbourhood without a premium price tag. A thoughtful perspective is that while the lot size is below average for the city, it represents a lower-maintenance yard—an advantage for buyers seeking simplicity over extensive outdoor space. The home’s age and consistent assessed value also indicate a stable, predictable property rather than a high-appreciation gamble, appealing to cautious buyers.

Frequently Asked Questions

1. How does this home’s size compare to others?
At 1,050 sqft, the living area is very close to the average for both Jefferson Avenue and the wider Jefferson neighbourhood, offering standard-sized rooms for a home of this style.

2. Is the assessed value a good indicator of the likely selling price?
The assessed value ($270k) is a municipal valuation for tax purposes. Notably, it sits below the city-wide average for comparable homes, but is around average for its immediate area. Recent sold price data for the neighbourhood should be consulted for a more accurate market picture.

3. What does the “renovated basement” include?
The listing confirms the basement is renovated, but the specific scope and quality of finishes (e.g., legal suite, ceiling height, permits) are not detailed. This would be a key point for buyer due diligence.

4. What are the implications of the 1948 build date?
While the home is older, its renovated basement suggests some updates. Buyers should still anticipate maintenance consistent with a nearly 80-year-old home, such as potential updates to original windows, roof, or mechanical systems, balanced by the character and solid construction of the era.

5. How does the lot size affect the property?
The 3,998 sqft lot is below the city average. This means a smaller yard, which could be a drawback for those wanting expansive outdoor space but a benefit for buyers preferring less landscaping upkeep. It’s efficient for the home’s footprint.