Property Overview: 413 Rupertsland Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1947, situated on a standard-sized lot in the Jefferson neighbourhood. Its key characteristic is its modest scale: with 652 sqft of living space, it is notably smaller than most homes in Winnipeg. This is reflected in its below-average assessed value. The home includes a basement (not renovated) and a detached garage.
The primary appeal lies in its affordability and potential as a straightforward entry point into the housing market. It suits first-time buyers, investors, or downsizers seeking minimal upkeep and a lower financial barrier. A thoughtful perspective is that its smaller size and unrenovated state offer a clear, blank-slate opportunity without the premium often attached to "move-in ready" homes. For the right buyer, the value is in the land and the structure's possibilities, not in finished luxury. Its average rankings for lot size and year built within its immediate area suggest it is a typical property for the street, offering stability rather than standing out.
Frequently Asked Questions
1. Is this a "tear-down" or a renovation project?
Given its smaller size and unrenovated condition, it could be seen as either. Its value is largely in the land, but the existing structure provides a viable starting point for a gradual renovation if the foundation and core systems are sound.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's characteristics (size, condition, age) relative to its local market. Its modest square footage and lack of updates place it in a lower value tier, especially when compared to the city-wide average which includes larger, newer, or more updated homes.
3. What does the sold price history indicate?
The home sold in late 2016 for an estimated range of $17.5k to $20.5k. This historical price, significantly below the current assessed value of $26.3k, highlights the property's position as a lower-cost option and may indicate market appreciation in the area over the last decade.
4. Who would this property not suit?
It would not suit buyers looking for a spacious, modern, or turn-key home. Families needing multiple bedrooms or significant living space would likely find it too compact. The unrenovated basement also means no finished additional living area.
5. How does it compare to its immediate neighbours?
The home is very typical for its street. Its living area and assessed value are below the Rupertsland Avenue average, but its lot size and age are around the neighbourhood norm. This suggests you are buying into a consistent, established area rather than an outlier.