Property Overview: 23 Downs Avenue, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This one-storey home on a 3,520 sqft lot presents a straightforward, low-maintenance living option. Its key characteristic is a recently renovated basement, adding valuable modernized space to the 1,012 sqft main floor. Built in 1970, the home is typical for its immediate street but sits on a lot that is larger than most in the Downs Avenue area, offering above-average outdoor space for the block.
The appeal lies in its position as a solid, unpretentious property within its community. It’s not the largest or newest home, but it offers recent updates (the basement) and a decent lot size for the neighbourhood. The sale history shows it sold for $310,000 in 2022, a price that was above average for the street but around the middle range for the wider Buchanan area and Winnipeg overall, suggesting it’s perceived as a fair-value proposition.
This home would suit first-time buyers or downsizers looking for a manageable, single-level layout in an established neighbourhood. It’s also a practical fit for an investor or buyer who values a renovated basement for extra living space or rental potential and prefers a home that doesn’t require immediate major updates.
Frequently Asked Questions
1. How does the lot size compare to others?
The 3,520 sqft lot is in the top 25% for size on Downs Avenue itself, meaning it's larger than most direct neighbours. However, compared to the broader Buchanan area and Winnipeg city-wide, the lot is below average in size.
2. What does the "renovated basement" include?
The listing confirms the basement has been renovated but does not specify the scope or finishes. A viewing or inquiry with the listing agent is necessary to determine the quality of the renovation, whether it includes a legal suite, and what permits were obtained.
3. Is the 2022 sale price a good indicator of current value?
The $310,000 sale price from September 2022 was above average for the street at that time. Current market conditions, further updates to the home, and recent comparable sales in Buchanan would all influence its present value.
4. There's no garage. Is street parking readily available?
The listing notes there is no garage. Prospective buyers should visit the street at different times to assess on-street parking availability, as this can vary significantly in established neighbourhoods.
5. The assessed value seems low. Why is that?
The $27,400 assessed value is for municipal tax purposes only and is not a market valuation. It is consistently below average for both the neighbourhood and city, which may result in relatively lower property taxes, but the market sale price is determined by buyer demand.