Property Overview
488 Burrin Avenue is a well-maintained one-storey home in Winnipeg's Jefferson neighbourhood, built in 1954. With 904 sqft of living space and a renovated basement, it sits on a standard 5,213 sqft lot with a detached garage. Its recent sale in August 2023 fell within the $34.5k-$37.5k range, and its current assessed value of $30.7k positions it as an above-average value within its immediate area.
Key Characteristics & Appeal
This home’s primary appeal lies in its solid, no-fuss practicality and strong value proposition within its local context. While its size is below the city-wide average, it is competitively sized for both its street and the Jefferson area, making it an efficient and manageable layout. The renovated basement adds valuable finished space. A key, less obvious strength is its relative newness compared to neighbouring homes; built in 1954, it is notably younger than many area comparables, which may suggest updates in building materials or layout. The detached garage offers flexible storage or workshop potential.
It is an ideal fit for first-time homebuyers, downsizers, or practical investors seeking an affordable, low-maintenance entry into the market. Its appeal is for those who prioritize neighbourhood value over sheer size, and who appreciate a home that is straightforward, updated where it counts (the basement), and offers a manageable yard and outbuilding.
Frequently Asked Questions
1. How does the home’s value compare to the area?
The assessed value of $30,700 is above the average for both the immediate street and the wider Jefferson area, indicating it is viewed as a higher-value property within its local market.
2. What is the significance of the "renovated basement"?
While specific details aren't listed, a renovated basement typically means the lower level is finished as livable space, adding functional square footage for recreation, storage, or additional rooms. It’s a key upgrade that enhances the home’s utility.
3. Is the lot size typical?
Yes. At just over 5,200 sqft, the lot is very close to the average for both Burrin Avenue and the Jefferson neighbourhood, offering a standard urban yard size.
4. The home sold recently in 2023. What does that price indicate?
The sold price range of $34.5k-$37.5k provides a concrete, recent market benchmark. It shows the price buyers were willing to pay just over a year ago, which is crucial for understanding current value.
5. How does the age of the home compare to others nearby?
Built in 1954, this home is newer than many on its street and in Jefferson, where average build years are 1944 and 1948, respectively. This could be an advantage regarding the potential age of core components.