Property Overview
322 Burrin Avenue is a well-maintained one-storey home in Winnipeg's Jefferson neighbourhood, built in 1953. With 917 sqft of living space, a renovated basement, and a detached garage, it sits on a generous 5,457 sqft lot. The home’s most striking feature is its assessed value of $340k, which ranks in the top 11% for its street and area, suggesting a premium valuation relative to its immediate peers. Recent sales data indicates strong price appreciation over the past five years.
Key Characteristics & Appeal
This home’s primary appeal lies in its position as a standout property within its local context. While its living space is average for Jefferson, its assessed value is notably high for the area, which could point to superior finishes, condition, or lot desirability. The renovated basement adds modern living space, and the large lot offers room for gardening, play, or expansion. Its appeal is nuanced: it’s a home that outperforms its neighbourhood in value, yet offers the practical layout and space of a classic Winnipeg bungalow. It would suit a buyer looking for a move-in ready home in a stable neighbourhood who values a property that already holds a strong relative value position. It might also attract an owner who appreciates having one of the more valuable homes on the block, potentially for long-term stability.
Frequently Asked Questions
1. Why is the assessed value so high compared to the area average?
The assessed value of $340k places this home in the top 11% for both Burrin Avenue and the wider Jefferson area. This premium likely reflects factors like the renovated basement, overall property condition, lot size, and recent market activity, as recognized by the municipal assessor.
2. How has the property’s value changed over time?
Based on available sales data, the home’s selling price range increased significantly between its 2019 sale ($255k-$285k) and its 2024 sale ($325k-$355k), indicating strong appreciation over a five-year period.
3. Is the living space smaller than average?
At 917 sqft, the living area is slightly below the Winnipeg city-wide average but is generally on par with the averages for both Burrin Avenue and the Jefferson neighbourhood itself.
4. What is the significance of the lot size?
The land area of 5,457 sqft is above average for Jefferson, providing a larger-than-typical yard for the area. This is a key feature for those seeking outdoor space.
5. What does the "Top X%" ranking mean for a potential buyer?
These rankings show how this property compares to similar homes in three geographic circles: its street, its neighbourhood (Jefferson), and city-wide. For example, a "Top 11%" rank for value means it is assessed higher than 89% of comparable local homes, highlighting its premium standing in the immediate market.