Property Overview: 507 Jamison Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1914 on a standard city lot in the Chalmers neighbourhood. Its key appeal lies in its position as an accessible entry point into the Winnipeg market. With a modest 748 sqft of living space, a detached garage, and a notably low property tax assessment, it represents a practical and financially streamlined ownership opportunity.
The home suits first-time buyers or investors seeking a low-maintenance footprint with minimal overhead. Its below-average assessed value and sale price compared to the street, neighbourhood, and city indicate a property priced for fundamental utility rather than luxury. A thoughtful perspective for a buyer is to see this not just as a small house, but as a manageable landholding in a mature area—the value is in the lot and the potential for a future refresh, rather than in its current finishes or size. It’s a pragmatic choice for someone prioritizing low carrying costs and a straightforward project over immediate move-in perfection.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's specific characteristics—its age, smaller living area, and market position. It reflects a valuation for a modest, older home, which directly translates to lower annual property taxes.
2. What does the ranking data mean for "Living Area"?
The data shows the home's size is around average for Jamison Avenue but below average for both the wider Chalmers area and Winnipeg overall. This confirms it's a compact home on a street with a mix of similarly sized and somewhat larger properties.
3. Is the 1914 build date a concern?
While the home has inherent character, a build date of 1914 means prospective buyers should prioritize a thorough inspection. This age typically indicates potential for older mechanical systems, wiring, and plumbing that may need updating or have already been replaced.
4. Who might this property not suit?
It may not suit buyers looking for modern, move-in-ready spaces or growing families needing multiple bedrooms and more square footage. The appeal is geared toward those comfortable with a smaller layout and possibly some updates.
5. What is the significance of the nearby comparable sales?
The listed nearby properties, like 513 and 547 Jamison Avenue, are newer and have higher assessed values. This contrast highlights that this listing sits at a different, more entry-level price point within the same immediate area, offering a distinct value proposition.