Property Overview
This one-storey home at 361 Seven Oaks Avenue presents a practical and value-oriented opportunity in Winnipeg's Jefferson neighbourhood. Its key appeal lies in a desirable balance between a well-sized lot and a recently renovated basement, all within a competitively assessed value bracket.
Key Characteristics & Ideal Buyer
The 1,092 sqft house, built in 1946, sits on a 5,078 sqft lot that is notably larger than many on its own street. While the living area is average for the area, the property stands out for its above-average assessed value of $350k within Jefferson, suggesting official recognition of its condition or improvements. The renovated basement adds functional living space and is a significant modern convenience in an older home. A detached garage provides additional storage or workshop potential.
This property would suit a first-time homebuyer or a practical downsizer looking for a manageable single-level layout without compromising on outdoor space. Its strong assessed value relative to the immediate area could appeal to those seeking a home with a solid foundation for equity, rather than just the largest square footage. It’s a home for someone who values a generous yard and move-in-ready updates over a brand-new build.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in late 2019 for an estimated $27.5k-$30.5k. Its current $350k assessment is significantly higher, which typically reflects municipal updates to reflect market values or improvements made to the property since the last sale.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, permits, and whether it includes added bedrooms, a legal suite, or simply finished living space.
3. Is the lot size a major advantage?
At over 5,000 sqft, the lot is larger than many in the immediate vicinity, offering more private outdoor space. This is a less obvious perk that provides room for gardening, play, or future additions like a shed or deck.
4. What are the implications of a home built in 1946?
While the structure is nearly 80 years old, a renovated basement is a positive update. Buyers should still budget for potential age-related maintenance, such as updates to original plumbing, electrical, or the roof, and ensure a thorough inspection.
5. How does this home fit within the Jefferson neighbourhood?
The metrics show this home’s assessed value is in the top 7% for Jefferson, indicating it is considered a higher-value property within the neighbourhood. However, its living area and age are around the area average, positioning it as a quality option within a familiar housing stock rather than an outlier.