Property Overview: 274 Hartford Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This is a practical, one-storey home on a standard-sized lot in Winnipeg's Jefferson neighborhood. Its key characteristic is its value-oriented position within the market. The living space (1,040 sq ft) is typical for the area, but the home's assessed value is notably below average for its street, neighborhood, and the city. This suggests a potential opportunity for buyers comfortable with a property that may require updates, as the basement is noted as unrenovated. The home was built in 1922, making it one of the older homes in the vicinity, which can appeal to those who appreciate classic construction but should factor in maintenance.
The appeal lies in its affordability and lot size. With a land area over 5,200 sq ft, the property offers ample outdoor space relative to many city lots, a valuable asset for gardening, expansion, or simply having room to breathe. It suits first-time buyers or investors looking for an entry point into the market with a "blank canvas" potential. It would also suit value-conscious buyers who prioritize land size over a modern, turn-key interior and are prepared to invest sweat equity or gradual renovations. A less obvious perspective is that its consistently below-average assessment, if not reflective of major issues, could represent a relative tax advantage compared to neighboring properties.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is for municipal tax purposes and is influenced by many factors, including the home's age, condition, and recent sales in the area. This home's lower assessment likely reflects its older age and unrenovated state compared to the broader Winnipeg average.
2. What does "basement, not renovated" imply?
This indicates the basement is functional but in original or utilitarian condition. Buyers should budget for potential updates to insulation, flooring, or finishes to modernize the space, and a thorough inspection is recommended to check for any moisture or foundational concerns common in century-old homes.
3. How does the lot size compare?
At 5,232 sq ft, the lot is slightly larger than the average for both Hartford Avenue and the Jefferson neighborhood. This is one of the property's stronger assets, offering more private outdoor space than many nearby homes.
4. What can recent sold prices tell me?
The provided sold price ranges from 2016 and 2021 show the home has historically traded at values below the average for comparable sales at those times. This trend aligns with the current below-average assessment and reinforces its position as a value-priced property.
5. Who are the typical neighbors?
The immediate neighbors on Hartford Avenue are similar one-storey homes, many also from the early-to-mid 20th century. The listing suggests the area has a mix of well-maintained and more modest properties, contributing to a varied streetscape.