424 Jefferson Avenue

Property Overview

This is a compact, one-storey home on Jefferson Avenue in Winnipeg, built in 1947. With 640 square feet of living space, it is notably smaller than most homes in its immediate area and across the city. It sits on a 3,596 sqft lot and features a renovated basement and a detached garage. The home’s assessed value is significantly below city-wide averages, reflecting its modest size and age. Recent sales data shows it sold in 2021 for a price range consistent with its current assessment.

Key Characteristics & Appeal

The primary appeal of this property is its affordability and simplicity. It represents a very accessible entry point into homeownership, with a tax burden likely lower than larger homes. Its renovated basement adds functional living space, which is a key asset in a smaller footprint. The detached garage offers valuable storage or workshop potential.

This home would suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking to downsize into a manageable, low-maintenance residence. Its appeal is practical rather than luxurious, offering the essentials without complexity. A thoughtful perspective for a buyer might be to see the smaller size as an opportunity to minimize possessions and living costs intentionally, or to view the well-below-average assessment as a buffer against potential market fluctuations.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based primarily on the home's relatively small living area (640 sqft), its age, and the local market comparisons. It is priced for its specific characteristics, not the broader city market.

2. What does "renovated basement" mean in this context?
While specific finishes aren't detailed, it indicates the basement has been updated to be functional living space, which is a significant advantage in a smaller home, effectively increasing its usable area.

3. How does the small living area affect livability?
The 640 sqft main floor requires efficient use of space. It's suitable for 1-2 people and emphasizes a simpler lifestyle. The renovated basement is crucial for providing additional room for storage, utilities, or recreation.

4. Is the recent sale price a reliable indicator of current value?
The 2021 sale price range is a relevant data point, but market conditions change. It should be considered alongside a current professional appraisal and recent comparable sales for the most accurate valuation.

5. What are the implications of the home's age (built 1947)?
While the basement has been renovated, a home of this age may require attention to original components like wiring, plumbing, or the foundation. A thorough inspection is essential to understand any needed updates or maintenance.