Property Overview
This one-storey home on Forrest Avenue presents a classic Winnipeg character property built in 1925. Its primary appeal lies in its generous 3,262 sqft lot, which ranks in the top 15% for size city-wide, offering significant outdoor space in a established neighbourhood. The 652 sqft living area is compact but efficient, ranking highly for its size relative to both the street and the wider city. Key features include a detached garage and a full, unrenovated basement offering storage or future potential. The home last sold in August 2022 for $200,000, with a current assessed value of $20,700.
This property is well-suited for a first-time buyer, an investor, or a hands-on individual looking for a home with a large yard. Its smaller interior footprint keeps heating and maintenance costs manageable, while the large lot provides room for gardening, pets, or future expansion. It’s a practical entry point into the Jefferson neighbourhood, ideal for someone who values outdoor space over a large interior and is comfortable with a home that may require personalization over time.
Frequently Asked Questions
1. What does "unrenovated basement" typically mean?
It generally indicates the basement is in original or functional condition, used for utilities, laundry, and storage. It is likely not a finished living space but represents potential for future development, subject to permits and inspections.
2. How significant is the lot size?
At over 3,200 sqft, the lot is a standout feature. It's substantially larger than many in Winnipeg, offering rare potential for outdoor activities, landscaping, or even an addition, which is increasingly valuable in mature neighbourhoods.
3. The assessed value is much lower than the 2022 sale price. Why?
Municipal assessed values for taxation purposes often lag behind market sale prices and are calculated using mass appraisal techniques. The sale price is a clearer indicator of current market value, while the assessment is best used for comparing tax loads between properties.
4. Who might this property not suit?
It may not suit those seeking a move-in-ready home with modern, open-concept layouts or who require multiple bedrooms and bathrooms. The smaller main floor area and unrenovated spaces call for a buyer with a vision and possibly a renovation budget.
5. What is the context of the provided "rankings"?
These rankings compare this specific property against others on the same street, in the Jefferson neighbourhood, and across all of Winnipeg. For example, ranking in the "top 10%" for living area on its street means it is larger than 90% of its immediate neighbours, providing useful context for its standout features.