Property Overview
This 700 sqft, one-storey home on a 3,275 sqft lot presents a straightforward, entry-level opportunity in Winnipeg's Jefferson neighbourhood. Built in 1917, its key characteristic is its modest scale and valuation, sitting below area averages for both size and assessed value. The home features a detached garage and an unrenovated basement.
Its primary appeal lies in its affordability and potential as a starter home or investment property. It suits first-time buyers seeking a lower barrier to entry, or investors looking for a rental property with manageable overhead. A less obvious perspective is its appeal to those seeking a minimalist footprint without the premium of a modern "tiny home," or to buyers who value a smaller, more manageable yard. The home’s assessed value is notably consistent with others on its street, suggesting it fits the local market context without overvaluation.
Frequently Asked Questions
1. What does "below average" for size and value really mean for a buyer?
It primarily means a lower purchase price and potentially lower property taxes. While the living space is compact, it represents a chance to own a single-family home where the cost is tied more to the land and location than to square footage.
2. How significant is the unrenovated basement?
This indicates the basement is functional but not finished as living space. It offers storage and utility access, and represents the single largest opportunity for a future buyer to add value through a renovation, subject to moisture checks and permitting.
3. The home is over 100 years old. What should I be most concerned about?
While systems like roofing, plumbing, and wiring have likely been updated over time, a thorough inspection is crucial. The age suggests character but also means maintenance priorities could differ from a newer home, focusing on foundational integrity and outdated materials.
4. The home sold very recently (February 2025). Why would it be back on the market?
Without specific disclosure, common reasons for a quick resale include an investor's flip, a change in the buyer's circumstances, or the result of a renovation project that was undertaken. Requesting the exact prior sale price can help clarify the context.
5. How does the detached garage affect the property's use?
It provides secure storage or workshop space separate from the house. For this smaller home, it effectively expands its utility. However, being detached means accessing it in winter requires going outside, and its condition should be evaluated separately.