Property Overview
This home at 571 Matheson Avenue is a compact, one-and-a-half storey character house built in 1912, situated on a standard city lot in Winnipeg's Jefferson neighbourhood. Its key appeal lies in its position as a highly accessible entry point into homeownership, with a very low municipal assessed value that places it in the bottom 10% of the city. The house itself is modest in size at 897 square feet of living area, which is notably smaller than most comparable homes on its street and in the wider area. It features a detached garage.
This property would primarily suit a specific type of buyer: first-time purchasers or investors seeking a low-cost acquisition with a clear understanding that the value is in the land and the opportunity, not the current structure. It is a project-oriented home, ideal for someone with renovation skills, a flexible timeline, or a plan to rebuild. The recent sale in late 2023 suggests it may have already changed hands for this purpose.
A less obvious perspective is that its low assessment and smaller footprint could translate into relatively manageable property tax and utility costs compared to larger homes, which is a practical advantage. Additionally, its age and rank within the neighbourhood indicate it is one of the area's original homes, potentially holding a quiet, unassuming place in the local streetscape.
Frequently Asked Questions
1. Why is the assessed value so much lower than the average home?
The assessed value is typically based on the property's market value, including both land and buildings. This low assessment strongly suggests the municipal evaluator sees limited value in the current 1912-era structure, placing the property's worth largely on the land itself.
2. What does the "Top 92%" ranking for Assessed Value mean?
This statistic means the property's assessed value is higher than only 8% of comparable properties in the city; in other words, it is in the bottom 8%. This is a clear indicator that it is priced far below the norm.
3. Is this a "tear-down" property?
While not explicitly stated, the data strongly implies it. The combination of a very old building (1912), a living area significantly smaller than area averages, and an assessed value in the bottom percentile for the city all point to a property where the land value outweighs the value of the existing house.
4. Who would be the most likely buyer for this home?
The most likely buyers are value-seeking investors, developers, or handy first-time buyers looking for a major project. It is less suited for someone seeking a move-in-ready or traditionally appreciating family home without significant investment.
5. The sold price history shows a range. How can I get the exact price?
According to the page, the exact sale price is not publicly displayed in the details. You can request it by emailing the source (SaveOnHouse) directly via the button provided. They state they will provide the accurate figure manually, typically by the end of the same day.