Property Overview: 322 Jefferson Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This is a compact, one-storey home built in 1922, presenting a straightforward and minimal footprint. Its key characteristics are defined by its modest scale: a 623 sqft living area and a 2,499 sqft lot, both significantly below average for the street, neighborhood, and city. The home has a basement (not renovated), no garage, and no pool. Its assessed value is notably low at $19.30k.
The appeal lies almost entirely in its position as an entry-point property. It suits a very specific buyer: someone seeking the absolute lowest possible cost of entry into home ownership, likely for the land value itself or as a foundational asset to hold. It could be a fit for an investor looking for a basic rental property with very low property taxes, or a hands-on buyer with the vision and capability to eventually replace or significantly expand the existing structure. The home’s age and condition mean it is not a move-in-ready option for a typical homeowner, but rather a project or a strategic holding.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's very small size, age, and likely the need for significant updates or repairs. It is assessed based on its current state as a modest, older dwelling, not on potential future value.
2. What does "below average — Top 99%" mean for Living Area?
This statistic indicates that this home's living area is smaller than approximately 99% of comparable homes in the city. In simpler terms, it is among the very smallest 1% of homes, which is the primary driver behind its low valuation.
3. Is this a good candidate for a renovation?
Given the home's small size and age, a full renovation would need to be evaluated carefully against the potential value of building new. The existing structure may serve best as a temporary holding while planning for a more substantial future investment in the property.
4. What are the property taxes likely to be?
With an assessed value of $19.30k, the annual property taxes would be exceptionally low compared to most Winnipeg homes. A buyer should confirm the exact amount with the city, but the low assessment is the main determinant.
5. The last sold price range (2020) is close to the current assessed value. What does that indicate?
This suggests the market for this type of property is very niche and its value is not appreciating like a standard home. It reinforces that the value is tied to its lot and its status as a minimal, no-frills asset rather than as a conventional house.