497 Burrin Avenue

Property Overview: 497 Burrin Avenue, Winnipeg

Key Characteristics & Appeal

This one-storey home on a spacious lot presents a solid, value-oriented opportunity in Winnipeg's Jefferson neighborhood. Its primary appeal lies in a combination of generous outdoor space and a strong valuation position relative to its immediate area. With 1,074 sqft of living space, the house is comfortably sized and sits above average for its street. The standout feature is the 6,938 sqft lot, which ranks in the elite top 5% on Burrin Avenue, offering significant room for gardening, expansion, or simply enjoying private outdoor space—a notable asset.

The home’s assessed value of $36.80k is notably high for the local context, ranking in the top 3-4% within both the street and the wider Jefferson area. This suggests the property is viewed favorably by assessors compared to its neighbors, potentially due to its lot size, condition, or recent renovations (the basement is noted as renovated). Built in 1954, it is newer than many homes in the vicinity. The detached garage adds practical utility.

This property would suit a pragmatic buyer looking for a home with established roots in a community, where the land itself represents a substantial portion of the asset. It’s ideal for someone who values outdoor space over a large interior footprint or for an investor attracted by the strong assessed value fundamentals. The recent sale history indicates active market interest.

Frequently Asked Questions

1. Why is the assessed value so high compared to nearby homes?
The assessment ranks in the elite tier for the local area, likely reflecting the combination of the very large lot size, the renovated basement, and the overall condition of the property relative to immediate comparables.

2. What is the significance of such a large lot?
Beyond privacy and space, a lot of this size (ranked in the top 2% in Jefferson) offers long-term flexibility. It could accommodate additions like a shed, a larger garden, or even a future extension, which is a less obvious advantage in older neighborhoods where lots are often smaller.

3. How does the home's size compare for comfortable living?
At 1,074 sqft, it is above average for its street and about average city-wide. It provides adequate space for a small family or couple, with the layout efficiency of a one-storey design being a key consideration for accessibility or single-level living preferences.

4. What does the recent sale history tell us?
The property sold in April 2022 for an estimated $40.50k-$43.50k, a price that ranked in the top 1-2% locally at that time. This recent transaction supports the current high assessment and shows a history of strong market value recognition.

5. Are there any potential concerns with a home built in 1954?
While newer than many neighbors, a 72-year-old home will have typical aging components. A thorough inspection is advised to assess the condition of major systems like plumbing, electrical, and the roof, even with a renovated basement. The "above average" age ranking is relative to an older housing stock.