Property Overview
This one-and-a-half storey home on Semple Avenue in Winnipeg's Jefferson neighborhood presents a straightforward, no-frills opportunity. Built in 1914, its key characteristic is its affordability, reflected in a living area of 880 sqft and an assessed value significantly below area averages. The property sits on a 3,339 sqft lot and features a basement that has not been renovated. There is no garage or pool.
The appeal lies primarily in its position as an entry point into the market or as a practical investment property. It suits buyers comfortable with a project, whether that's living in it as-is while saving for updates, or an investor looking for a rental with lower upfront costs. A thoughtful perspective is that a home of this age and value in a mature neighborhood offers a chance to build equity through gradual, thoughtful improvements rather than paying a premium for modern finishes. It may also appeal to those seeking minimal space without the burden of a large yard or excessive square footage to maintain.
Frequently Asked Questions
What does "below average" for assessed value actually mean for taxes?
A lower assessed value typically results in lower municipal property taxes compared to higher-valued homes in the same area, which can be a significant ongoing saving.
Is the unrenovated basement finished or usable for storage?
The listing specifies it is "not renovated," which generally means it is in a rough, unfinished state. It is likely usable for basic storage and utilities but not as living space.
How does the smaller lot size affect the property?
The lot is below the neighborhood average, which means less exterior maintenance. It could limit expansion possibilities but may be preferable for those wanting a smaller yard to manage.
Are homes from 1914 a concern for major issues?
While the character is appealing, a home of this age likely has older systems (like plumbing or wiring) and may require careful inspection for foundational integrity, insulation, and updating to meet modern standards.
The sold price history shows a sale around $14.5k-$17.5k in 2020. Why is that so low?
This historically low sale price is likely not a standard market transaction. It could indicate a prior sale between family members, a lot value transaction, or a sale "as-is" with significant known deficiencies. It's best to research recent comparable sales for a current market value.