Property Overview: 2-610 Jefferson Avenue, Garden City, Winnipeg
Section 1: Key Characteristics & Appeal
This is a 650 sqft condo unit in a low-rise building on Jefferson Avenue, built in 1960. Its most defining characteristic is its highly accessible price point, reflected in an assessed value of $120k, which ranks in the bottom 3-4% compared to similar properties on its street, in Garden City, and across Winnipeg. The living space is compact, also ranking below average for size in all comparisons.
The primary appeal lies in its function as an affordable entry point into homeownership. It suits first-time buyers or investors seeking a low-cost asset with minimal upfront investment. The below-average costs for both purchase and property taxes could free up cash flow for other priorities. A less obvious perspective is its potential appeal to downsizers or individuals seeking a minimalist, low-maintenance lifestyle who prioritize financial simplicity over space. The unit’s age suggests potential for dated interiors, but this also represents a clear-value proposition for a buyer willing to undertake cosmetic updates.
Section 2: Frequently Asked Questions
1. What does the "Top 97%" ranking for Assessed Value mean?
It means this unit's assessed value is lower than 97% of comparable properties on Jefferson Avenue. In simpler terms, it is one of the most affordable units in the immediate area.
2. Is the condo fee included in this information?
No, the provided data does not include monthly condo fees. This is a critical cost factor to investigate separately, as it can significantly impact the total monthly cost of ownership.
3. The home was built in 1960. Should I be concerned about major repairs?
While the building is older, the condo corporation is responsible for the structure and common elements. A review of the condo's reserve fund study and minutes would be essential to understand the financial health of the building and any planned major projects or special assessments.
4. The last recorded sale was in late 2022 for a very low price. Why?
The listed sale price range (11.5k-14.5k) is exceptionally low for a property with a $120k assessment. This typically indicates a non-arms-length transfer (such as between family members) or a sale of a partial interest, not a standard market transaction. It should not be used as a benchmark for current market value.
5. Who would this property not be suitable for?
It would likely not suit buyers who need more space, such as growing families, those who desire modern finishes without renovation work, or anyone uncomfortable with the potential for higher maintenance issues common in older buildings.