488 Matheson Avenue

Property Overview: 488 Matheson Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home on Matheson Avenue in the Jefferson neighbourhood presents a practical and straightforward opportunity. Built in 1943, its 883 sqft living area is modest, placing it below the citywide average for size, which suggests a cozy, low-maintenance interior. A key updated feature is the renovated basement, adding valuable finished space. The property includes a detached garage and sits on a notably generous 5,446 sqft lot for the Jefferson area, offering above-average outdoor space for the neighbourhood.

The appeal here is rooted in value and potential. The home’s assessed value is positioned around the average for its immediate street and area, indicating a stable, entry-level point in the market. It suits first-time buyers, downsizers, or investors looking for a manageable property with a good land-to-building ratio. The renovated basement adds immediate functionality, while the large lot provides long-term flexibility—whether for gardening, expansion, or simply more private outdoor space than is typical nearby. It’s a home for those who prioritize lot size and location fundamentals over a large or modernized interior.

Section 2: Frequently Asked Questions

1. How does the home’s size compare to others?
At 883 sqft, the living area is smaller than the average Winnipeg home. However, it is relatively more common in the Jefferson area, and the renovated basement effectively increases the usable living space.

2. What does the lot size mean for me?
The lot of over 5,400 sqft is a standout feature for Jefferson. It is larger than many in the immediate area, offering more yard space and potential for outdoor use or future projects than a typical property in this price range.

3. Is the assessed value a good indicator of the likely selling price?
The assessed value provides a benchmark for municipal taxation. Market price is influenced by current conditions, the home’s condition, and buyer demand. Recent sold price history for this property shows it has transacted below the current citywide assessed average, suggesting it may represent a value-oriented opportunity.

4. What is the neighbourhood like?
Jefferson is an established, mature neighbourhood. The property rankings show homes here are often older and more varied in size and value compared to the city as a whole, reflecting its long-developed character.

5. Who would this property not suit?
Buyers seeking a modern, open-concept layout or substantial above-ground square footage may find the floorplan limiting. It is best suited for those comfortable with the upkeep of an older home (built 1943) who value the benefits of a larger lot over a larger house.