325 Perth Avenue

Property Overview & Key Characteristics

This one-storey home at 325 Perth Avenue in Winnipeg's Jefferson neighbourhood presents a compact, no-frills living opportunity. Its primary appeal lies in its affordability and straightforward footprint, underscored by a recently renovated basement that adds functional space. At 635 sqft, the living area is notably smaller than most homes in the area, city, and even on its own street, positioning it as one of the most modestly sized properties available. The lot is also slightly below average for the local area. Built in 1927, the home is typical for the age of housing stock on Perth Avenue. A detached garage and the renovated basement are practical assets. The assessed value is significantly below local averages, indicating a lower property tax burden and an accessible entry point into the market.

This property would suit a first-time buyer or an investor seeking a low-cost holding with renovation potential. Its scale and manageable taxes could also appeal to a downsizer looking to minimize upkeep and expenses. A thoughtful perspective is that its smaller size and below-average assessments might offer a buffer against market volatility, representing a utilitarian investment rather than a premium one. It’s a home for those who value location and basics over space and modern finishes.

Frequently Asked Questions

1. Why is the living area so much smaller than average?
At 635 sqft, this is a compact, classic one-storey home. The data shows it ranks in the bottom 3% for size citywide, meaning it offers a minimalist footprint compared to most Winnipeg homes.

2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This would be a key point to clarify with the seller or agent to understand the quality and use of that additional space.

3. How can the assessed value be so much lower than nearby homes?
The assessed value of approximately $24,900 is a fraction of the local average. This is likely due to the home's very small size, age, and the assessed value being used primarily for calculating property taxes, not representing market sale price.

4. Is the sold price history from 2020 relevant today?
The last recorded sale was between $13.5k and $16.5k in May 2020. While it shows a history of very low transaction values, market conditions have changed significantly since then, and the current asking price would be determined by today's market.

5. What are the implications of a detached garage?
A detached garage offers utility storage or parking but requires going outside to access it. For some, this is a minor inconvenience; for others, it's a preferred separation. It's also a potential maintenance point to consider alongside the main house.