Property Overview: 522 Jubilee Avenue, Winnipeg
Key Characteristics & Appeal
This home at 522 Jubilee Avenue in Lord Roberts is a character property with a clear value proposition centered on its lot and location. Built in 1926, the 730 sqft house is notably compact, ranking in the bottom 7% for living space citywide. This positions it as a true starter home or a downsizing opportunity. Its primary appeal lies in its generous 5,339 sqft lot, which is significantly above average for the Lord Roberts neighbourhood (top 12%), offering ample outdoor space and future potential in a well-established area.
The appeal is for a specific buyer: someone seeking an entry point into a mature neighbourhood, who values outdoor space over interior square footage, and is comfortable with a home that may require updates. The assessed value is strong for the local area, suggesting the property is well-regarded within its immediate context. It suits a practical buyer, perhaps a first-time purchaser willing to grow into the property, an investor, or someone looking for a land-value play in a central location.
A less obvious perspective is that this property represents a trade-off that defines many older neighbourhoods—you’re acquiring a share of a prized location and a sizable piece of land, but the existing structure is modest and will likely require investment to meet modern living standards.
Frequently Asked Questions
1. Why is the living area so much smaller than average?
As a 1926 home, its floor plan reflects the norms of its era. Many similar homes have been expanded over time, so this property may present an opportunity to customize an addition to suit a new owner's needs, leveraging the large lot.
2. How does the lot size compare to nearby properties?
The lot is a key feature. At over 5,300 sqft, it is substantially larger than the average lot in Lord Roberts (approx. 3,482 sqft), offering more privacy, yard space, and flexibility than most in the immediate area.
3. What does the sold price history indicate?
The home sold between $250k-$300k in 2023, a price that reflects its above-average lot and location, balanced against its smaller, older structure. The previous sale in 2017 was between $200k-$250k.
4. Is the assessed value typical for a home of this size?
Interestingly, while the home is small, its assessed value is above average for Lord Roberts. This indicates that assessors place significant value on the lot and location, not just the building's square footage.
5. Who would this property not suit?
It would likely not suit buyers seeking immediate move-in condition with modern, open-concept layouts, or families requiring multiple large bedrooms. The value here is in the underlying asset (land/location) and the opportunity it presents, not in turn-key convenience.