Property Summary: 314 Jefferson Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1949, featuring a renovated basement and a detached garage. With 880 sqft of living space, it is a smaller home compared to many in the city, but its assessed value is notably strong within its immediate Jefferson neighbourhood, ranking well above the local average. The lot is a standard city size at just under 4,500 sqft.
The primary appeal lies in its efficiency and location-based value. It represents a practical entry point into homeownership or a low-maintenance living option. The renovated basement adds functional space, a significant asset in a smaller main-floor footprint. The home suits first-time buyers, downsizers, or pragmatic investors looking for a character home without excessive square footage to maintain. Its above-average assessment for the area suggests it is perceived as a solid asset within its community context, potentially offering stability over sheer size.
Frequently Asked Questions
1. How does the home's size impact its value?
While the living area is below the city average, the property's assessed value is strong for the Jefferson neighbourhood. This indicates that factors like the renovated basement, lot location, and overall condition are likely contributing significantly to its worth, offsetting the smaller main-floor square footage.
2. What does the sold price history indicate?
The home sold in 2016 and again in 2017. The increase in sale price over that short period suggests rising market interest or value-add improvements at that time. For current value, the assessed value provides a more recent benchmark.
3. Who would this home not be suitable for?
It may not suit buyers requiring multiple bedrooms or large, open-concept living areas on a single floor. Families needing significant immediate space might find it cramped, though the basement offers expansion potential.
4. What is the significance of the detached garage?
A detached garage on a standard city lot is a valuable feature, offering storage or workshop space separate from the house. It also presents future potential, such as conversion to a studio or rental unit, subject to local zoning regulations.
5. How should I interpret the "rankings" for Year Built and Living Area?
The home ranks lower for its year built (1949) and living area because these metrics are sorted with "newer" and "larger" being ranked higher. This doesn't imply poor condition; many well-maintained character homes from this era exist. It simply reflects its position in a statistical comparison, and the renovated basement helps modernize the overall living space.