Property Overview & Key Characteristics
This well-situated one-storey home at 422 Royal Avenue in Winnipeg's Jefferson neighbourhood offers a practical and updated living space. Its key appeal lies in a combination of above-average space for its immediate area and a recently renovated basement, adding valuable functional square footage. With 1,324 sqft of living area, the home is notably larger than many comparable properties on its street and in Jefferson, providing more room than typical for the locale. The detached garage and a generous 5,038 sqft lot offer practical outdoor space and parking.
The home suits first-time buyers or downsizers looking for a manageable single-level layout without sacrificing space. It also appeals to value-conscious buyers who prioritize move-in readiness, particularly due to the finished basement, over needing a brand-new build. A thoughtful perspective is that while its assessed value is average for the city, you are acquiring a home that ranks highly for living space within its own community, suggesting a potentially efficient use of your budget relative to the neighbourhood.
Frequently Asked Questions
1. How does the living space compare to nearby homes?
The home's 1,324 sqft of living area places it in the top 15% on Royal Avenue and the top 12% in the wider Jefferson neighbourhood, meaning it is significantly larger than many comparable properties in the immediate area.
2. What is the significance of the assessed value?
At $304,000, the assessed value is around the average for the street, neighbourhood, and city. This indicates the property is priced consistently with the market, without an unusual premium or discount based on its official valuation.
3. What should I know about the age of the home?
Built in 1956, the home is older than the Winnipeg average but is actually newer than many homes on its street and in Jefferson. This suggests the neighbourhood is established, and the home may have benefited from updates over time, like the basement renovation.
4. Is the lot size a pro or a con?
At just over 5,000 sqft, the lot is above average for Royal Avenue and typical for Jefferson, offering good outdoor space for the neighbourhood. It is, however, smaller than the city-wide average lot, which is a common trade-off for homes in established, inner-city communities.
5. Who might this property not suit?
It may not suit buyers seeking a modern, two-storey layout or those requiring a large, sprawling yard. The one-storey design and neighbourhood-typical lot are best for those who prefer convenient living spaces over expansive ones.