Property Overview: 526 Belmont Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Jefferson presents a compelling blend of space, value, and potential. Its key characteristics include a renovated basement, a detached garage, and a generous lot size that ranks well above average for its immediate street and neighbourhood. Built in 1955, it is a newer home compared to many in the area. The 900 sqft living area is typical for Belmont Avenue, offering comfortable, manageable space.
The primary appeal lies in its standout value proposition within its local context. The home’s assessed value places it in the top tier (top 5-6%) for both its street and the wider Jefferson area, suggesting it is a high-value property relative to its direct peers. This, combined with the above-average land area, indicates a property with a strong foundational value, where the investment is weighted more toward the land and location than sheer square footage. It would particularly suit first-time buyers, downsizers, or value-focused investors seeking an established home in a mature neighbourhood without a premium price tag. The renovated basement adds immediate functional living space, appealing to those looking for a move-in-ready property or one with rental potential.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in 2021 for an estimated $35.5k–$38.5k, which aligns closely with its current assessed value of $35.70k. This consistency suggests a stable valuation in the local market.
2. Is the living space sufficient for a growing family?
At 900 sqft, the living area is average for the street but below the city-wide average. It is best suited for individuals, couples, or small families. The renovated basement, however, provides crucial additional space for recreation, office, or guest use.
3. What does the "above-average" land area mean for me?
With a lot just under 5,000 sqft, you have more outdoor space than most neighbours on Belmont Avenue. This allows greater potential for gardening, expansions, or adding outdoor living features like a deck or shed.
4. The home is older. What should I consider?
While built in 1955 (newer than many area homes), a standard home inspection is essential. Focus on the condition of major systems (roof, foundation, plumbing, electrical) that are typical for the era, as well as the quality and permits for the basement renovation.
5. Why is the assessed value so high compared to similar homes on the street?
Assessed value considers multiple factors. Its high ranking suggests that, compared to other homes on Belmont Avenue, this property likely benefits from a combination of its larger lot, newer construction date, renovated condition, and the recent sale price history, making it a premium offering on the block.