Property Overview: 382 Jefferson Avenue
Key Characteristics & Appeal
This is a classic, one-storey home built in 1918, situated on a generous, nearly 5,000 sqft lot in Winnipeg's Jefferson neighbourhood. Its core appeal lies in a balance of established character and practical updates, notably a renovated basement that adds valuable finished space to the 960 sqft main floor. The attached garage is a significant practical asset in this vintage.
The home’s value proposition is clear when examining its context. While the structure itself is older, its assessed value ranks consistently higher than many area peers, suggesting it is well-maintained and considered above-average for its immediate surroundings. It suits first-time buyers or downsizers looking for a manageable single-level layout with a low-maintenance exterior footprint, but who also desire a large yard for gardening, pets, or future expansion. Investors may also see potential, given the home’s steady appreciation in assessed value—rising from $17.5k in 2016 to $22.5k in 2022—in a neighbourhood with a wide mix of home ages and values.
A less obvious perspective is the lot itself. In an area where many homes are on smaller parcels, this property’s lot size is in the top half of the street, offering a relative rarity: space. This provides not just privacy and room to enjoy outdoors, but also long-term flexibility that smaller lots in the area cannot match.
Frequently Asked Questions
1. What does the "renovated basement" likely include?
While specifics aren't listed, a "renovated basement" in a home of this era typically means it has been finished into a usable living space, such as a rec room, office, or additional bedroom, and includes proper flooring, walls, and ceiling. It’s a key feature that effectively doubles the usable living area.
2. How does the age of the home affect maintenance?
Built in 1918, the home will have the character and solid construction of its era but may require attention to aging components like original windows, plumbing, or electrical systems. The recent basement renovation is a positive sign of updated infrastructure.
3. The assessed value seems low. Is this accurate?
Yes, the assessed values listed are consistent with Winnipeg municipal assessments for the area, which are typically for tax purposes and can be significantly lower than current market value. The home last sold for its assessed value of $22.5k in late 2022.
4. What is the Jefferson neighbourhood like?
Jefferson features a diverse mix of home styles and eras, from early 1900s to new builds. The property ranks in the top half for lot size and value on its street, indicating it's among the more substantial homes in its immediate block, offering a stable, established community feel.
5. Why is the lot size a notable feature?
At 4,997 sqft, the lot is larger than over half the properties on Jefferson Avenue. This is a standout feature for the area, providing more outdoor space, potential for additions like a deck or shed, and better distance from neighbours compared to homes on standard-sized lots.