Property Summary: 508 St Anthony Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Jefferson presents a compelling blend of modest scale and strong underlying value. Its key characteristic is a renovated basement, adding functional living space to the 904 sqft main floor. The detached garage and a generous 5,293 sqft lot offer practical utility and outdoor potential.
The appeal lies in its standout value proposition within its immediate area. Despite its average living area for the street and neighbourhood, its assessed value ranks in the top 14% on St. Anthony Avenue and the top 24% in Jefferson, suggesting it is viewed as a higher-quality asset compared to its peers. A less obvious point of appeal is its age; built in 1953, it is notably newer than most homes on its street, which may translate to fewer concerns with outdated building practices or materials common in older Winnipeg homes.
This property would suit first-time buyers or downsizers seeking a manageable, single-level layout in an established neighbourhood. It’s also a sensible fit for value-oriented investors or homeowners who prioritize lot size and a renovated basement for extra income or family space over a large main floor footprint.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the last sold price?
The home sold in August 2021 for between $34.5k and $37.5k. Its current assessed value is $31.3k. It’s important to consult a real estate professional to understand current market conditions and how assessment values relate to actual selling prices.
2. Is the living space sufficient for a growing family?
With 904 sqft on the main floor plus a renovated basement, the total functional space is larger than it initially appears. The layout of the basement renovation will be key, as a well-finished lower level can provide crucial extra bedrooms or living areas.
3. What does the high assessment ranking mean?
Ranking in the top 14% by assessed value on its street indicates the municipal assessment views this property more favorably than most neighbours. This often reflects factors like the renovated basement, overall condition, lot desirability, or the newer construction year relative to nearby homes.
4. Are there any concerns with a home built in 1953?
While newer than many area homes, a 73-year-old house will still require due diligence. Potential buyers should invest in a thorough inspection, paying specific attention to the foundation, plumbing, electrical systems, and the quality/permits of the basement renovation.
5. What is the potential for future expansion or renovation?
The lot size is above average for the street, providing a good footprint. The single-storey design and newer construction year (for the area) could make a main-floor addition or significant renovation more structurally straightforward than on older, multi-story homes, subject to local zoning bylaws.