Property Overview: 266 Leila Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1920, presenting a straightforward opportunity in Winnipeg's Jefferson neighbourhood. Its key characteristics are its modest scale—with 670 sqft of living space and a 4,001 sqft lot—and its notably low municipal assessed value. The home features a detached garage and an unrenovated basement.
The primary appeal lies in its position as an accessible entry point into the housing market. It suits buyers with limited capital, such as first-time purchasers seeking a minimal mortgage footprint, or investors looking for a low-cost rental property with fundamental utilities. Its smaller size also translates to lower utility costs and less maintenance. A less obvious perspective is its potential for someone needing a functional Winnipeg address—perhaps for a small home-based business or a caregiver requiring a separate, affordable suite for a family member—where the condition of the basement is not a priority. It’s a practical choice for those who view a home primarily as shelter and a financial stepping stone, rather than a project or a status symbol.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's age, smaller size, and lack of renovations compared to the broader Winnipeg market. It is in line with other lower-valued properties in the immediate area.
2. What does "below average" in the rankings mean for a buyer?
For key metrics like living area and assessed value, this home ranks in the bottom 10% compared to its immediate neighbours, the Jefferson area, and city-wide. This quantifies its position as a smaller, more affordable option, but also indicates it may not have seen the updates or expansions of many other homes.
3. Is the unrenovated basement finished or usable?
The listing specifies the basement is "not renovated." Buyers should assume it is in original or utilitarian condition, suitable for storage and mechanical systems, but not designed as modern living space without significant investment.
4. How reliable is the sold price history shown?
The listed sale price from 2020 is a range based on public data. The site offers to provide the exact sold price via email, noting they do not use the contact for unsolicited marketing.
5. What are the realistic expectations for living in a 670 sqft home?
This is a very efficient layout. It will suit individuals, couples, or those comfortable with minimal space. Storage and entertaining space will be limited, emphasizing a lifestyle that values simplicity and low overhead.