Property Overview & Key Characteristics
563 Matheson Avenue is a classic one-storey home in Winnipeg's Jefferson neighbourhood, built in 1917. Its primary appeal lies in its value proposition and lot size. The property sits on a nearly 3,000 sqft lot, which ranks in the top 7% for size on its street and within the wider neighbourhood, offering ample outdoor space relative to many area homes. The assessed value is notably modest, also ranking highly for its level against comparable properties.
The home itself is compact at 610 sqft of living space, with an unrenovated basement and a detached garage. This presents a clear fixer-upper opportunity. Its strongest suit is the land and location metrics, not the current condition of the structure. It would best suit a buyer looking for a foundational investment—whether as a land-hold with a rental property, a hands-on renovator seeking a large lot to build equity, or an investor comfortable with a project. Its appeal is practical rather than turn-key, targeting those who see potential beyond the existing floor plan.
Frequently Asked Questions
1. What does "rank by area, larger = better rank" mean for the lot size?
It means this property's lot is larger than most. Specifically, it's bigger than 93% of lots on Matheson Avenue and 93% of lots in the Jefferson neighbourhood, which is a significant advantage.
2. The living area is small and ranks very low. Is the house unusually tiny?
At 610 sqft, the living space is indeed compact and ranks in the bottom 3% for the neighbourhood. This confirms the home itself is a small, century-old structure, and any buyer's plans should account for the need to potentially expand or creatively utilize the space and basement.
3. The home is 109 years old. What should I be most concerned about?
While the rankings show it's not the oldest home in the area, any house of this age will require thorough inspections for foundational integrity, wiring, plumbing, and insulation. The "unrenovated basement" note specifically suggests potential moisture or structural issues that need evaluation.
4. The assessed value seems very low compared to some nearby references. Why?
The assessed value is for municipal tax purposes and reflects the property's current state. The listed comparable sales (like 675 Lansdowne at $270k) are likely renovated, updated, or have different characteristics. This disparity highlights the gap between the property's current condition and its potential value after improvements.
5. Who would this property NOT be suitable for?
It is likely not a match for first-time buyers seeking a move-in-ready home, for those unable to manage or finance significant renovations, or for anyone needing substantial living space immediately. The value here is long-term and requires a vision for transformation.