Property Overview: 404 Belmont Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in the Jefferson neighbourhood presents a practical, no-frills opportunity. Built in 1941, its 847 sqft living area is modest but typical for Belmont Avenue. A key feature is its renovated basement, adding functional space. The lot is compact at 2,535 sqft, which means lower maintenance but less private outdoor space.
Its primary appeal lies in affordability and simplicity. With a consistently low assessed value and recent sold prices in the $17.5k–$20.5k range, it represents one of the most accessible entry points into homeownership in Winnipeg. It suits a very specific buyer: those seeking absolute minimal financial commitment, such as investors looking for a straightforward rental property, or hands-on owners who value low property taxes and are comfortable with a smaller, older home that may require ongoing updates. It’s less about features and more about the fundamentals of securing a property at a very low cost basis.
A less obvious perspective is its positioning within its immediate context. While its size and value are below the city-wide averages, they are much more aligned with—or even above average for—Belmont Avenue itself. This suggests it’s a representative property for the street, not an outlier, offering a realistic view of the local market.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope or quality. A professional inspection is highly recommended to determine the finish, compliance with codes, and suitability for living space or storage.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's modest size, age, and the market values within the Jefferson neighbourhood. It indicates lower municipal property taxes, which is a key advantage for cost-conscious owners.
3. Is the lack of a garage a significant drawback?
For this price segment, the absence of a garage is common. Buyers should plan for street parking and consider the implications for vehicle security and winter maintenance, though the compact lot reduces snow-clearing responsibilities.
4. How do the recent sold prices compare to the assessment?
The home sold in the $17.5k–$20.5k range in both 2021 and 2023, which is below its current $22.2k assessed value. This recent sales history is a crucial data point for understanding its actual market price.
5. Who are the typical neighbours or buyers on this street?
Given the home's characteristics and the provided comparison to nearby identical addresses (402, 406, 400 Belmont Ave.), the street appears to consist of very similar, modestly sized homes. This indicates a neighbourhood of value-focused residents and investors.