Property Overview: 481 Matheson Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1913, presents a classic character home opportunity in Winnipeg's Jefferson neighbourhood. With 1,080 sqft of living space and a renovated basement, it offers functional living on a modest 3,006 sqft lot. The home’s primary appeal lies in its value proposition; its assessed value is consistently below average for its street, neighbourhood, and the wider city, suggesting a potentially accessible entry point into the market. This isn't a large or modern property, but a pragmatic one.
It would suit first-time buyers or practical investors looking for a home with historic charm without a premium price tag. Its below-average land size and older vintage mean lower property taxes and less exterior maintenance compared to many larger lots, which can be a subtle financial advantage. The appeal is grounded in essentials: it's a solid, no-frills home that prioritizes function and affordability over size or modern luxury.
Section 2: Frequently Asked Questions
1. Is the below-average assessed value a concern?
Not necessarily. It primarily reflects the home's older age, smaller lot, and modest size compared to area averages. It often translates to lower annual property taxes, which is a positive for ongoing affordability.
2. What does "one-and-three-quarter storey" mean?
This is a common architectural style for the era. It typically means the second floor has sloped ceilings (following the roof line) and potentially dormer windows, creating cozy, character-filled bedrooms that may have less full-height wall space than a modern two-storey.
3. How does the living space compare to nearby homes?
At 1,080 sqft, it's slightly smaller than the average home on Matheson Avenue but very close to the average for the Jefferson neighbourhood itself. This indicates it's a reasonably sized home for the immediate area.
4. The home sold in 2016 and 2019. What does that history indicate?
The sold price ranges show it has transacted at values well below city-wide averages at those times. This pattern reinforces its position as a value-oriented property and may indicate a market segment with steady, modest demand.
5. What are the less obvious considerations with a 1913 home?
While the basement is renovated, the core structure is over a century old. Prospective buyers should pay particular attention to the foundation, original wiring or plumbing updates, and roof condition. The charm of an older home comes with a responsibility for diligent maintenance.