Property Overview
This 910 sqft bi-level home at 220 Belmont Avenue in Winnipeg's Jefferson neighbourhood presents a practical and modernized living option. Its key appeal lies in being a notably newer construction (built in 2002) in an area dominated by much older homes, offering move-in readiness with a renovated basement. The detached garage adds functional value. While the living space and lot size (2,998 sqft) are modest compared to broader city averages, the property holds a strong assessed value position within its immediate area, suggesting it is well-regarded in its local context.
It would suit first-time buyers or downsizers seeking a low-maintenance, modern home without leaving established neighbourhoods. It’s also a sensible fit for pragmatic investors or buyers who prioritize updated mechanics and a newer building envelope over expansive square footage, valuing predictability in maintenance costs.
Key Questions & Answers
1. How does the home’s age compare to others nearby?
It is significantly newer. Built in 2002, it ranks in the top 6% on its street and top 4% in the Jefferson area, where the average comparison home was built in the late 1940s.
2. The assessed value seems high relative to the sold price from 2019. Why?
The current assessed value ($32.10k) is above the local average and notably higher than the 2019 sale range ($25.50k - $28.50k). This typically reflects market appreciation and municipal assessment updates, but it’s important to review recent comparable sales for current market value.
3. What are the trade-offs for having a newer home in this area?
The primary trade-off is space. The lot and living area are below average for the street and city, which is common for infill properties. You gain modern construction but may have less outdoor and indoor space than older homes on larger lots nearby.
4. Is the renovated basement included in the living area square footage?
Typically, below-grade space is not included in official living area calculations. The 910 sqft likely refers to above-grade space, meaning the renovated basement adds valuable additional functional space not reflected in that main figure.
5. How does this property fit within the Jefferson neighbourhood?
It offers a contemporary living option in a classic neighbourhood. For context, nearby reference properties are older (e.g., built 1912, 1926) and vary in size and value, indicating a diverse streetscape. This home provides a turn-key alternative to a renovation project.