Property Overview: 317 Perth Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home in Winnipeg's Jefferson neighbourhood, built in 1942. Its key characteristic is its modest scale, with 640 sqft of living space, which places it well below average size for the street, area, and city. The assessed value of $180k is similarly positioned below local averages. The lot is a manageable 3,896 sqft, close to the average for Perth Avenue. A detached garage is noted.
The primary appeal lies in its accessibility as a true entry-point into homeownership. It suits buyers with a limited budget who prioritize getting onto the property ladder over square footage, or those seeking a minimalist footprint. Its below-average costs for taxes and utilities could be a significant draw. A less obvious perspective is its potential as a strategic hold in a mature neighbourhood; the lot itself represents a substantial portion of the property's value, offering future possibilities subject to local regulations. It would likely suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking a low-maintenance base in the city.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size and older age compared to the broader Winnipeg market. It is more in line with, though still below, the averages for Jefferson and Perth Avenue specifically.
2. What does the sold price history indicate?
Public records show a sale in February 2021 in the $115k-$145k range. This historical data points to a market entry point, but it's essential to request the exact sold price and consult a real estate professional for a current market valuation.
3. Is the house in need of major updates?
Given its age (built 1942), buyers should budget for potential updates to major systems like plumbing, electrical, or the roof. A thorough home inspection is strongly recommended to understand the condition and any needed investments.
4. Who would this property not be suitable for?
It would likely not suit buyers who need multiple bedrooms, dedicated home office space, or who have a growing family, due to the limited living area. Those looking for a modern, move-in-ready home without renovation projects may also want to consider other options.
5. What are the advantages of a smaller home like this?
Beyond the lower purchase price, advantages include reduced costs for heating, cooling, property taxes, and maintenance. It encourages a simpler lifestyle and can be easier and faster to clean, allowing owners more free time and financial flexibility.