Property Overview
This 800 sqft, one-storey home on a 5,155 sqft lot presents a specific and practical opportunity. Built in 1951, its key appeal lies in its proportionally large lot for the neighbourhood and its very low municipal assessed value, indicating a potentially low property tax burden. The home itself is modest in size, ranking below average for living space both on its street and in the wider Jefferson area. It features a basement that is noted as unrenovated and does not include a garage or pool.
This property would suit a value-focused buyer looking for a footprint to build upon. It's a candidate for a long-term hold, appealing to an investor seeking a rental with low carrying costs, a hands-on homeowner planning a future expansion or rebuild to utilize the generous lot, or a first-time buyer prioritizing minimal ongoing taxes over immediate move-in condition. Its charm is not in its current state but in its underlying potential and financial efficiency.
Frequently Asked Questions
1. What does the "below average" ranking for Living Area and Assessed Value actually mean?
It means that compared to similar homes on the same street, in Jefferson, and across Winnipeg, this house is smaller and has a lower municipal valuation than most. This isn't necessarily negative; it often translates to lower property taxes and a clear starting point for renovation or redevelopment.
2. Why is the Land Area considered "above average" for the street?
While the home is modest, the lot size of over 5,000 sqft is larger than many of its immediate neighbours. This is a key feature, offering more outdoor space or future building potential than is typical for the block.
3. Who is this type of property not well-suited for?
It is not ideal for buyers seeking a turn-key, modern home or those who need substantial living space immediately. The lack of a garage and an unrenovated basement also means it may not suit someone unwilling to take on projects or invest in upgrades over time.
4. Does a low assessed value mean it's a bargain purchase price?
Not directly. The assessed value is used for calculating municipal taxes, not determining market value. The sale price will be set by the market and could be significantly higher than the assessment, though the low assessment suggests the ongoing tax cost will be favourable.
5. What is the main takeaway from the comparison data?
The data paints a picture of a property with a strong underlying asset (the lot) paired with a house that is simple and economical to maintain. The value proposition is in the land and the low operating costs, not in the current finishes or size of the dwelling.