Property Overview: 542 Seven Oaks Avenue, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Jefferson presents a practical and value-oriented opportunity. Its key characteristics include a renovated basement, a detached garage, and a notably generous lot size of nearly 5,000 sqft for the area. With 1,176 sqft of living space, it offers roomier-than-average dimensions for both the immediate street and the Jefferson neighbourhood.
The appeal lies in its strong positional value. The home ranks above average for its assessed value, lot size, and modern build year (1962) compared to most peers on Seven Oaks Avenue and in Jefferson. This suggests a property that has been maintained and sits on a desirable parcel of land relative to its surroundings. It would suit first-time buyers seeking a solid entry point into homeownership with space to grow, or practical-minded investors looking for a character home with a renovated basement suite potential (subject to verification) and stable fundamentals in an established neighbourhood.
A less obvious perspective is that a newer build year in an older area can mean fewer immediate concerns about outdated major systems, like plumbing or electrical, that are common in century homes. Additionally, the above-average lot size offers a tangible asset—extra outdoor space—that is increasingly valuable and cannot be replicated.
Frequently Asked Questions
1. What is the exact recent sold price history?
Public data shows a sale in June 2017 for approximately $26.5k to $29.5k. For precise, verified sold prices, you can request the detailed history via email from the listing source.
2. How does this home compare to others in the area?
The data indicates it consistently performs above the neighbourhood average for key metrics like assessed value, lot size, and year built, suggesting it is a comparatively modern and valuable property within Jefferson.
3. Is the basement suite legal?
The listing mentions a renovated basement but does not specify if it is a legal, rentable suite. This is a critical point to verify with the seller and the city.
4. What are the typical property taxes?
With an assessed value of $330k, you can estimate annual property taxes by applying Winnipeg's current tax rate to this assessment figure.
5. Why is the lot size a significant feature?
At 4,999 sqft, the lot is larger than many in the immediate area. This provides more private outdoor space, potential for gardening or expansions, and often contributes to better long-term value retention.