Property Summary: 506 Jamison Avenue
Key Characteristics & Buyer Appeal
This is a compact, one-storey home built in 1914 on a standard-sized lot in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in its renovated basement, which adds functional living space to the modest 592 sqft main floor. The property presents a very affordable entry point into the market, with an assessed value significantly below the citywide average.
The home would suit a specific type of buyer: first-time purchasers or investors seeking a low-cost footprint. It's a practical choice for those comfortable with a smaller, older home where the value is in the land and the potential for future updates, rather than in move-in-ready size or modern features. A thoughtful perspective is that while the living area is small by today's standards, the renovated basement offers flexibility—it could serve as a separate suite, a dedicated workspace, or extra living room, making the overall utility of the property greater than the main square footage suggests. Its average rankings within the immediate area for year built and value indicate it's a typical home for this specific street, not an outlier, which can be appealing for buyers seeking a straightforward, established neighbourhood.
Frequently Asked Questions
1. How does the small living area compare to nearby homes?
The 592 sqft main floor is notably smaller than most in the area. Comparable homes on Jamison Avenue average about 869 sqft, and in the wider Chalmers neighbourhood, the average is around 953 sqft.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. Viewing the property or requesting details from the listing agent is necessary to understand the quality and use of this space.
3. Is the assessed value a reliable indicator of the sale price?
The home's assessed value is $19,400k. It last sold in 2021 for $21,400k, which was around the average for the street at that time. Market conditions will determine the final sale price, but history suggests it trades close to its assessed value.
4. What is the parking situation?
The listing specifies there is no garage. Parking is likely limited to on-street, which is common for homes of this era in the area.
5. Are the neighbouring properties similar?
Yes. Direct neighbours on Jamison Avenue are homes of a similar scale and vintage. Notably, a few lots away there are newer, larger homes (built 2018, 2024), indicating the street is experiencing gradual renewal, which can be a positive long-term signal.