Property Overview: 559 Matheson Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1907, presenting a classic entry-point into Winnipeg’s housing market. Its key characteristic is its modest scale: with 648 sqft of living space and a recently renovated basement, it offers essential living areas without excess. The lot is similarly modest at just under 3,000 sqft, and the home features a detached garage.
The primary appeal lies in its affordability and simplicity. With an assessed value significantly below area averages, it represents one of the most accessible priced properties in the city. This isn’t a home for sprawling luxury; its value is in providing a solid, no-frills foundation. It would suit a first-time buyer seeking a manageable financial commitment, an investor looking for a straightforward rental property, or someone who values a minimal footprint and lower maintenance costs. A thoughtful perspective is that a home of this age and size on a smaller lot offers a unique opportunity to live more sustainably with lower utility consumption and less space to furnish and heat.
Section 2: Frequently Asked Questions
1. What is the actual likely selling price?
While the assessed value is approximately $24,600, recent sales of similar homes on the same street (like 563 Matheson in 2023) have sold in the $20,500-$23,500 range. The selling price is typically influenced by market conditions and property condition, and may align closer to these recent sale figures.
2. Is the small living area a major drawback?
It depends on your needs. The living area is notably smaller than most homes in Winnipeg. For a single person, couple, or investor, it can be efficient and cost-effective. For a growing family, it would likely feel cramped. The renovated basement does provide additional flexible space.
3. What are the implications of the home’s age (1907)?
Age brings both character and considerations. While systems may have been updated, potential buyers should budget for ongoing maintenance typical of a century-old structure. A thorough inspection is essential to understand the condition of the foundation, wiring, and plumbing.
4. How does the detached garage affect usability?
A detached garage offers secure storage and parking but means dealing with the elements when going between your car and house, which can be a notable factor during Winnipeg winters.
5. Are the property taxes low due to the low assessment?
Generally, yes. A lower assessed value typically results in a lower municipal property tax bill, which is a key ongoing cost advantage for a budget-conscious homeowner.