Property Overview
688 Jackson Avenue is a two-storey home in Winnipeg's Ebby-Wentworth neighbourhood, built in 1962. With 1,040 sqft of living space, it offers a practical layout for a smaller household. The property features a detached garage and an unrenovated basement, presenting a functional but basic canvas. Its standout characteristic is its very low municipal assessed value, which is significantly below averages for the street, area, and city. This is paired with a comparably smaller lot size. The home's living area, however, is above average for Jackson Avenue, suggesting efficient use of the footprint.
Key Characteristics & Appeal
The primary appeal of this property lies in its position as an accessible entry point into the Winnipeg market. Its low assessed value translates to correspondingly low property taxes, a significant and ongoing cost savings for a buyer. The home suits first-time buyers, investors, or downsizers with a limited budget who prioritize location and a functional structure over move-in-ready finishes or expansive outdoor space. Its appeal is practical rather than luxurious.
A thoughtful perspective for a buyer is the trade-off presented: you gain one of the newest homes on the block (built in 1962, which is newer than most neighbours) and lower taxes, but you accept a smaller yard and a home that likely requires updates. It’s a property for someone comfortable with a "value-add" project over time, where the investment goes into personalization rather than paying a premium for prior renovations. The unrenovated basement is a blank slate, offering storage or future expansion potential without the cost of undoing someone else's work.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Municipal assessments are based on a mass appraisal system considering factors like lot size, living area, age, and neighbourhood sales. The combination of a smaller lot and a modest, unrenovated home in this area results in this lower valuation.
2. What does "Top 94%" for Assessed Value on the street mean?
This statistic means the home's assessed value is higher than only 6% of comparable properties on Jackson Avenue. In simpler terms, it has one of the lowest assessments on the street, which directly correlates to lower property taxes.
3. Is the smaller lot size a major drawback?
It depends on your lifestyle. The yard requires less maintenance, which can be a benefit. However, it offers less private outdoor space and may limit expansion possibilities compared to larger lots in the area.
4. Who would this property not suit?
It may not suit growing families needing more bedrooms or living space, buyers seeking a large garden or outdoor entertainment area, or anyone wanting a turn-key home without immediate renovation projects.
5. The home sold in January 2022. What does that sale price indicate?
The previous sale price provides a historical market data point, but it does not set the current value. Market conditions, interest rates, and any changes to the property since 2022 will determine its present listing price and eventual sale price.