Property Overview & Appeal
This 1912 one-storey home on a generous 3,093 sqft lot presents a classic Winnipeg character property with clear value-oriented appeal. Its key characteristic is the combination of a modest 700 sqft living area with a large, undeveloped basement and a detached garage, offering foundational space for expansion or storage. The appeal lies in its strong positional rankings: the lot size, living area, and year built all rank within the top 14% or better for Winnipeg, suggesting a well-situated property in a established neighbourhood. It suits a practical buyer looking for a solid entry point into the market—perhaps a first-time homeowner, an investor, or a hands-on individual who sees potential in the existing structure and land. The very low assessed value indicates a property that may require modernization, appealing to those with renovation plans or a budget-focused strategy who are comfortable with a project.
Frequently Asked Questions
1. What does the "top X%" ranking actually mean?
It compares this specific attribute (like lot size) against all other properties on the same street, in the neighbourhood (Jefferson), and across Winnipeg. For example, its lot size ranks in the top 14% city-wide, meaning it's larger than 86% of Winnipeg lots.
2. The assessed value seems very low compared to nearby homes. Why?
The $24,400 assessment is likely based primarily on the land value and the basic structure, reflecting its age and condition. It suggests the interior and systems may be original or in need of significant updating, which is not captured in the assessment figure.
3. Is the basement usable in its current state?
The listing notes "Basement: Yes, not renovated." This confirms it exists and is unfinished. It likely has foundational space and utilities but requires proper finishing to be lived in.
4. Who would this property NOT be suitable for?
It may not suit someone seeking a move-in-ready home without any renovation work, or a family requiring substantial immediate living space, as the current main floor area is compact.
5. How does the age of the home (1912) impact a purchase?
While it adds character, it necessitates careful inspection for foundational integrity, wiring, plumbing, and insulation. The positive ranking by age (top 8% in Winnipeg) indicates it's older than most city homes, so a pre-purchase inspection is essential to understand the scope of any needed updates.