Property Summary: 331 Royal Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic, renovated one-storey home in Winnipeg's Jefferson neighbourhood, built in 1948. With 1,121 sqft of living space and a nearly 4,800 sqft lot, it offers comfortable, single-level living on a spacious, typical city lot. A key feature is its renovated basement, adding valuable finished space. The home includes a detached garage.
Its appeal lies in its solid, middle-of-the-road metrics for the immediate area. For Jefferson and Royal Avenue specifically, its living space, lot size, and assessed value all rank as "around average" compared to peers. This suggests a home that fits neatly into the established fabric of the neighbourhood—not the largest or newest, but a well-sized property that has been updated. The renovated basement is a practical advantage, effectively expanding the usable square footage beyond the main floor.
This property would suit a first-time homebuyer or downsizer looking for manageable, single-level living in a stable neighbourhood without the premium price of a top-tier property. It’s also a sensible fit for a value-conscious buyer who prefers a home that has already seen key renovations (like the basement), offering move-in readiness without the immediate need for major projects.
Frequently Asked Questions
1. What is the exact recent sold price history?
The available public data shows a sale in August 2019 in a broad range. For precise, verified sold prices, you can request the exact history via email from the listing source.
2. How does the assessed value compare?
At $29.50k, the assessment is around average for Jefferson and Royal Avenue. It's important to note that assessed value for tax purposes is a different metric than current market value, but it indicates the home is not an outlier in its area.
3. Is the lot size a pro or con?
At just under 5,000 sqft, the lot is typical for the street and neighbourhood. It provides good outdoor space for gardening or recreation without the extensive maintenance of a much larger yard.
4. What does "around average" in rankings mean for me?
For key metrics like living area and lot size, it means this home is very representative of what the Jefferson area offers. You are getting a standard offering for the locale, which can provide stability and predictable comparisons for future resale.
5. The home is 78 years old. What should I consider?
While the basement has been renovated, a home of this age means core systems (like plumbing, electrical, roof) may be newer updates or could require future attention. A thorough inspection is always recommended to understand the condition of these fundamental elements beyond the cosmetic renovations.