Property Overview: 297 Belmont Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1946, featuring a renovated basement and a detached garage. With 631 square feet of living space, it is notably smaller than most homes in its neighborhood, city-wide, and even on its own street. This defining characteristic shapes its appeal: it represents a highly affordable entry point into the Winnipeg market, particularly in the Jefferson area. The assessed value is significantly below area averages, indicating lower property taxes and an accessible purchase price.
The appeal lies in its practicality as a starter home, a downsizing option, or a strategic investment property. It suits buyers prioritizing financial efficiency over space—first-time purchasers wanting to build equity without a massive mortgage, investors seeking a rental with a lower entry cost, or retirees looking to minimize upkeep and expenses. The renovated basement adds functional living area, partially offsetting the modest main-floor square footage. A less obvious perspective is that a home of this size and vintage can offer a simpler, more manageable lifestyle, with lower utility costs and less space to maintain, which can be a significant hidden value for the right owner.
Frequently Asked Questions
1. Is the living area really only 631 sq. ft.?
Yes. The home is significantly smaller than the average Winnipeg house. The layout and the renovated basement are key to making the space functional.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and the local market in Jefferson. A lower assessment typically translates to lower annual property taxes.
3. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify details. A viewing or inquiry with the seller is necessary to understand the finish, rooms, and ceiling height.
4. Who would this property suit best?
It's ideal for first-time buyers, downsizers, or investors. It's less suitable for those needing multiple bedrooms or ample indoor living space without significant renovation or expansion.
5. How recent are the renovations, and what is the home's condition?
The listing notes a renovated basement but does not provide dates or detail the condition of the main floor, roof, or major systems. A professional home inspection is strongly recommended.