Property Summary: 345 Seven Oaks Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1940, presents a unique value proposition in Winnipeg's Jefferson neighbourhood. Its key characteristic is a significant disconnect between its living space and its official assessed value. The home offers a practical 1,308 sqft of living area, which is above average for both its immediate street and the Jefferson area, providing more room than many comparable local properties. However, its assessed value is notably low, ranking at the very bottom of local comparisons. This creates a distinctive profile: a home with usable space in an established area, carrying very low property taxes.
The appeal lies in this financial efficiency. It suits a specific type of buyer: those seeking to minimize ongoing property tax burdens, investors or homeowners comfortable with a value-play and potential renovation projects (common for a home of this age), or first-time buyers prioritizing interior space over lot size, as the land area is compact. It’s a pragmatic choice for someone focused on the utility of the house itself rather than land investment, in a neighbourhood of older, character homes.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than other homes?
While specific reasons aren't provided, dramatically low assessments often relate to the property's condition, specific market factors, or its functional characteristics (e.g., basement status) as recorded for tax purposes. It's essential to verify the current condition and any potential factors with a professional.
2. What does "Basement: No" mean for this property?
This typically indicates the home is built on a crawlspace or slab foundation, not a full basement. This affects storage and mechanical systems, and is a key structural detail to clarify during a viewing or inspection.
3. The sold price history shows a range of $13.5k–$16.5k. Is that accurate?
The listed range is based on public data estimates. The exact, legally registered sale price can be requested directly from the source, which emphasizes providing it via email without marketing spam.
4. How does the low assessed value impact property taxes?
It directly results in significantly lower annual property tax bills compared to neighbouring homes with similar living space. This is a major ongoing cost advantage for the owner.
5. The home is older—what should I consider?
Built in 1940, it is older than many area averages. Prospective buyers should budget for potential updates to major aging components like roofing, plumbing, wiring, and windows, and consider an inspection essential.