Property Overview: 245 Royal Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, century-old (1925) one-storey home in Winnipeg's Jefferson neighbourhood, presenting a very specific value proposition. Its key characteristics are its modest 680 sqft living area, an unrenovated basement, a detached garage, and a 2,399 sqft lot. The home's assessed value is notably low compared to local and city-wide averages.
The primary appeal lies in its position as one of the most accessible entry points into homeownership in the city. It suits buyers with limited capital—such as first-time investors looking for a rental property with minimal upfront cost, or a hands-on owner-occupant who prioritizes land ownership and mortgage payments over rent and is willing to live modestly or renovate over time. A less obvious perspective is its potential as a "holding property": the small lot size, while below average, may still offer future redevelopment potential in a mature neighbourhood, appealing to those with a very long-term outlook. It is not suited for those seeking move-in readiness, space, or conventional appreciation metrics.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the average sold prices shown?
The assessed value is for taxation purposes and often lags behind market values. The sold price history indicates the market value has been higher, though still at a very accessible price point compared to typical Winnipeg homes.
2. What does "below average" in all the rankings practically mean for living here?
It confirms this is a smaller, older home on a smaller lot than most in the area. You are purchasing a basic shelter and land title, not a premium property. Daily life will involve managing an older home's maintenance and enjoying a compact living space.
3. Who would this property not be suitable for?
It would not suit families needing multiple bedrooms or space to grow, anyone unable to handle ongoing maintenance of a 101-year-old structure, or buyers seeking a modern, turn-key home without renovation projects.
4. The sold price history shows a range. How can I get the exact figure?
The exact sold prices are not published in the public record. As noted on the detail page, you can request this information via email from the site; they provide it manually without using your email for marketing.
5. Is the unrenovated basement finished or usable as living space?
The listing specifies it is "not renovated," which typically means it is in original, likely unfinished condition. It provides utility and storage space but would require significant investment to be converted into legal living area.