Property Overview: 555 Matheson Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1922, presents a straightforward opportunity in Winnipeg's Jefferson neighbourhood. With 1,053 sqft of living space, its size is fairly typical for the area. The home features a basement that has not been renovated and does not include a garage or pool.
The primary appeal lies in its accessibility. The property's assessed value is consistently well below average for its street, neighbourhood, and the wider city, indicating a lower entry point into the market. This is a home that prioritizes function and affordability over modern finishes or ample land, as the lot is also smaller than most comparables. It would suit a first-time buyer comfortable with a project, an investor looking for a rental property with a manageable overhead, or someone seeking the absolute minimum property tax burden. Its history of sales every few years suggests it often serves as a practical stepping stone in the market.
A less obvious perspective is that a home of this age and value in an established neighbourhood can represent a form of stability; it's less susceptible to the dramatic market fluctuations that affect higher-priced segments. Its simple, unrenovated state also offers a clear canvas for incremental, owner-driven improvements without the premium of already-completed upgrades.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on factors like the home's age, size, condition, and lack of major renovations compared to other properties. Its consistent ranking in the bottom percentiles confirms it is viewed as a more modest offering in the area.
2. What does "basement not renovated" imply?
It means the basement space is in a functional, likely original state. Buyers should budget for potential updates to suit their needs and anticipate that it may not have modern finishes, moisture barriers, or legal secondary suite potential without significant investment.
3. The home has sold several times recently. Is that a concern?
The sales pattern (2016, 2021, 2023) suggests it has served as a short- to medium-term holding for previous owners. This is common for affordable, entry-level properties and isn't inherently a red flag, but it underscores the importance of a thorough inspection to understand the home's condition.
4. How does the lack of a garage affect daily living?
Prospective owners will need to plan for street parking and consider the practicalities of Winnipeg winters without sheltered vehicle storage. This is a trade-off for the lower purchase price.
5. Are the sold prices shown the exact amounts?
No, the listed prices are estimated ranges from public data. The exact sale prices are available by request from the listing service to ensure accuracy for serious buyers.