Property Overview: 471 Perth Avenue, Winnipeg
Key Characteristics & Appeal
This two-storey home on Perth Avenue in the Jefferson neighbourhood presents a compelling blend of space, value, and established character. Its key feature is its generous 1,684 sqft living area, which ranks in the top 3% for size both on its street and within Jefferson, offering significantly more interior space than typical area homes. The property sits on a substantial 5,782 sqft lot, providing ample outdoor space. A detached garage and a renovated basement add practical utility. Built in 1953, it is a newer construction compared to many neighbouring homes.
The primary appeal lies in its standout value proposition within a specific locale. The assessed value places it in an elite tier for Jefferson and Perth Avenue, suggesting a high perceived value relative to immediate peers, while being more average citywide. This indicates a property that offers premium attributes for its specific area at a potentially accessible entry point for the broader market. It would suit value-conscious buyers looking for above-average space in an established neighbourhood, or those who see potential in a home that already boasts a renovated basement and a large lot for future projects or gardening.
Frequently Asked Questions
1. How does the assessed value compare to the likely selling price?
The assessed value is for municipal tax purposes and is not an appraisal or market valuation. The sold price history shows a previous sale in the $33.5k-$36.5k range in 2021. Market conditions, property updates, and demand will determine the current listing price.
2. What does the "elite" ranking for living area actually mean?
It means this home's interior square footage is larger than 97% of comparable homes on Perth Avenue and in the Jefferson neighbourhood. You are getting significantly more indoor space than is typical for the immediate area.
3. The home is from 1953. Should I be concerned about major updates?
While newer than many area homes (ranking in the top 25% on its street for year built), a 73-year-old home will still require a thorough inspection. The renovated basement is a positive update, but the condition of major systems like roof, plumbing, and electrical should be verified.
4. What are the advantages of a detached garage?
A detached garage offers flexibility—it can be used for parking, workshop space, or storage without impacting the home's living area. It may also provide more options for future landscaping or garden space between the garage and the house.
5. Why is the citywide ranking for assessed value only "around average"?
This highlights the neighbourhood-specific value. The home is considered a high-value property within Jefferson, but when compared to all homes across Winnipeg, its assessed value is near the middle. This can represent an opportunity to acquire a top-tier home for its area at a city-average price point.