342 Belmont Avenue

Property Overview & Appeal

This one-storey home at 342 Belmont Avenue is a compact, post-war property built in 1946. Its key characteristic is its modest scale, with 660 sqft of living space and a 3,282 sqft lot, both placing it below the average for the Jefferson area and Winnipeg overall. The home has an unrenovated basement and a detached garage. Its assessed value is notably low, reflecting its size and condition.

The primary appeal lies in its affordability and potential. It represents a true entry point into the Winnipeg market, suited for first-time buyers, investors, or downsizers comfortable with a smaller footprint. The lot size is reasonable for the neighbourhood, offering outdoor space. A thoughtful perspective is that its below-average metrics across the board create a clear value proposition for a hands-on buyer; it’s a property where personal sweat equity could translate directly into financial equity, rather than paying a premium for already-completed upgrades. It would suit a pragmatic buyer looking for a straightforward project or a long-term holder less concerned with immediate modern finishes.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific attributes—its smaller size, age, and unrenovated condition—compared to the broader city average which includes much larger, newer, or updated homes.

2. Is the basement finished or usable?
The listing specifies the basement is "not renovated," indicating it is likely in a rough or utility state, offering storage or future development potential rather than finished living space.

3. What does the sold price history indicate?
The home sold in 2021 and 2019 at prices consistent with its low assessment. The increase between sales aligns with broader market trends, suggesting it is valued for its land and location rather than its structure.

4. Who would this property not be suitable for?
It would likely not suit buyers seeking a move-in-ready home, those needing multiple bedrooms or ample living space, or anyone unwilling to take on a property that may require updates or maintenance over time.

5. How does it rank compared to immediate neighbours?
The data shows that on Belmont Avenue itself, the home's living area and lot size are around or slightly below the street's average, while its assessed value ranks in the lower third. This suggests it is a more modest offering even within its own block.