Property Overview
This well-situated one-storey home at 356 Royal Avenue in Winnipeg's Jefferson neighbourhood presents a practical opportunity. Built in 1947, it features 954 sqft of living space and a renovated basement. Its key asset is a notably generous 5,888 sqft lot, which is significantly larger than most in the immediate area. The detached garage adds utility. Recent sales history and current assessed value position it as a competitively priced option within its local market.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of a solid, updated foundation (the renovated basement) and exceptional outdoor potential. While the living space is modest and typical for the area, the lot size is a standout feature, ranking in the top 15% locally. This offers rare space for gardening, expansion, or simply more privacy in a city setting. Its assessed value is around average for Jefferson, suggesting a fair market entry point.
This home would suit first-time buyers or practical downsizers looking for a manageable footprint without sacrificing yard space. It’s also a candidate for a long-term holder who values the option to improve or expand over time, given the generous lot dimensions. The appeal is grounded in utility and potential rather than luxury finishes.
Frequently Asked Questions
1. How does the lot size compare to a typical city lot?
The lot of 5,888 sqft is over 25% larger than the average for the Jefferson area (~4,742 sqft), offering substantially more outdoor space than most neighbouring properties.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. This would require clarification from the seller or a viewing to understand the finish quality, layout, and whether it includes a separate entrance or legal suite potential.
3. Is the price in line with recent sales on the street?
Based on available data, the home's last sale was in early 2020. Its current assessed value sits around the middle range for Royal Avenue, suggesting it is priced consistently with the street's general market.
4. What are the implications of the home's age (1947)?
While the core structure is nearly 80 years old, the renovated basement indicates some updates. Buyers should budget for expected maintenance on older components like the roof, windows, and plumbing, and consider an inspection to evaluate the condition of original elements.
5. How does this home rank for value in the broader city?
Citywide, the home's assessed value ranks around the 70th percentile, meaning it is assessed higher than about 70% of all Winnipeg properties. This reflects its relative value position as above-average for the overall market, though it is more average within its specific neighbourhood context.