225 Perth Avenue

Property Overview: 225 Perth Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1912, situated on a generously sized lot in the Jefferson neighbourhood. With 994 sqft of living space, it offers a practical footprint that is typical for its immediate area. A key modern update is the renovated basement, adding functional living space, and the property includes a detached garage. Its assessed value positions it as an around-average investment for the Jefferson area.

The primary appeal lies in its balance of classic Winnipeg character and practical updates. The lot size is a significant asset, offering above-average outdoor space for the neighbourhood—a boon for gardening, expansion, or simply enjoying more privacy. While the home’s living area is modest city-wide, its recently sold price history suggests it represents a more accessible entry point into the market. This property would suit first-time buyers or practical downsizers looking for a manageable home with a good yard in an established area. It’s a straightforward property that prioritizes land value and location over square footage, appealing to those who see potential in the lot itself or value a simpler, maintainable home.

Frequently Asked Questions

1. How does the age of the home affect it?
Built in 1912, it is notably older than most homes in Winnipeg. Buyers should budget for and prioritize a thorough inspection, as older plumbing, electrical, and foundation systems may require attention or updating, even with a renovated basement.

2. Is the lot size an advantage?
Yes, particularly for the Jefferson neighbourhood. At over 5,800 sqft, the lot is larger than many nearby properties. This provides valuable outdoor space and could be a long-term asset for adding a deck, garden, or even an addition (subject to zoning).

3. What does the sold price history indicate?
The home sold in August 2022 for a price range notably below its current assessed value. This suggests the assessed value may reflect a general market increase, but it’s crucial to investigate why it sold at that previous level and what, if any, changes have been made since.

4. Who might this home not suit?
It may not suit buyers seeking modern, open-concept layouts or ample above-ground bedroom space, given its smaller, older footprint. Families needing multiple large bedrooms or those unwilling to manage the upkeep of a century-old home might find it limiting.

5. How does it compare to the neighbourhood?
The data shows it’s very much a "middle-of-the-road" property for Jefferson in terms of size and value. Its standout feature locally is the larger land area. It offers a typical neighbourhood experience rather than standing out as exceptionally large or modern.