Property Summary: 615 Matheson Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1948, featuring a renovated basement and a detached garage. With 796 sqft of living space, it is notably smaller than most area homes, placing it in the top 10-15% for compact size citywide. Its assessed value, however, is strong for the immediate Jefferson neighbourhood, ranking above average locally. This creates an interesting dynamic: you're acquiring a home with a solid valuation foundation on a standard 5,036 sqft lot, but with a much smaller footprint than typical.
The primary appeal lies in its efficiency and potential. It suits buyers looking for an affordable entry into the market, downsizers seeking a manageable space without a condo fee, or investors interested in a character home with a renovated basement for rental income. Its above-average assessment for Jefferson suggests it is viewed favorably within the context of its specific streets and nearby sales, rather than citywide averages. A thoughtful perspective is that the smaller size translates to lower utility costs and less maintenance, while the renovated basement immediately adds functional space.
Section 2: Frequently Asked Questions
1. Is the house unusually small?
Yes. At 796 sqft, the living area is significantly below the average for similar homes in Jefferson (approx. 1,029 sqft) and citywide (approx. 1,342 sqft). This is its defining characteristic.
2. Why is the assessed value relatively high for a smaller home?
While the home is compact, its assessed value ranks above average for the Jefferson neighbourhood. This is likely due to a combination of the renovated basement, the property's condition, and recent sales data from very nearby comparable homes.
3. What is included in the "renovated basement"?
The listing confirms the basement is renovated but does not specify the details. This would be a key point to clarify with the seller or listing agent regarding the finish, ceiling height, permits, and intended use.
4. How does the 2016 sale price relate to the current assessed value?
The home sold for between $145k and $175k in May 2016. The current assessed value is $309,000. This increase reflects broader market trends over nine years and the impact of the basement renovation.
5. Are the nearby reference properties good comparables?
The listed references, like 575 Matheson Ave, have similar size and assessed value, making them useful for understanding the immediate micro-market. However, others on the list are from different neighbourhoods and vary greatly in size, underscoring the importance of focusing on the most local Jefferson data.