Property Summary: 538 Jefferson Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1925, offering a straightforward and affordable entry into homeownership. Its key characteristic is its modest scale: with 720 sqft of living space and a 2,501 sqft lot, it is notably smaller than most comparable properties in the area and citywide. The home features a renovated basement, adding functional space. Its appeal lies primarily in its low financial barrier to entry, as reflected in its well-below-average assessed value. This is a property for pragmatic buyers—first-time purchasers, investors seeking a rental property, or those looking to downsize with minimal upkeep. Its value proposition is rooted in essentials, not extravagance. A thoughtful perspective is that its smaller footprint can mean lower utility costs and less maintenance, aligning with a simpler, more efficient lifestyle. It suits a buyer comfortable with a home that serves as a practical shelter and a financial stepping stone, rather than a statement property.
Frequently Asked Questions
1. Is the home in good condition?
While the listing notes a renovated basement, the overall condition of the main floor and major systems (roof, wiring, plumbing) in a 101-year-old home should be verified through a professional inspection.
2. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the home's smaller size, age, and likely simpler finishes compared to the average city home. It is priced in line with its peer group of very compact, older properties.
3. Is there potential to expand the living space?
The lot size is smaller than most, which may limit possibilities for large additions. However, the renovated basement already adds usable space, and creative interior reconfiguration could be an option.
4. What are the typical maintenance costs for a home of this age?
Older homes can have higher upkeep costs. Budgeting for ongoing maintenance, particularly for aging components, is essential. The recent basement renovation may address some modern needs.
5. How does the last sold price compare to the current asking price?
The home sold in July 2020 for an estimated range of $16.5k-$19.5k. For the exact historical sold price and to understand current market value, you can request the precise data via email from the listing source.