Property Overview: 577 Matheson Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1949, situated on a standard city lot in the Jefferson neighbourhood. Its key characteristic is its modest scale, with a living area of 640 sqft that places it well below the average size for comparable homes in the area, street, and city. The basement exists but is noted as not renovated, and the property has no garage or pool.
The primary appeal lies in its position as an accessible entry point into the market. With an assessed value of $250,000, it sits below the average for its immediate surroundings, suggesting a potentially lower price barrier. This isn't a move-in-ready showcase home; its appeal is for the practical buyer who sees potential in a straightforward layout or values a lower-maintenance footprint. It would suit first-time buyers, downsizers looking to simplify, or investors seeking a rental property with a manageable scope. A thoughtful perspective is that a smaller, efficiently designed home can offer significant savings on utilities and upkeep, turning its compact size from a drawback into a feature of economical living.
Section 2: Frequently Asked Questions
1. Is the price reflective of the home's condition?
Given the below-average living area and the note that the basement is not renovated, the price likely accounts for these factors. It positions the property as a value-oriented project or a functional, no-frills home.
2. How does the assessed value relate to the likely selling price?
The assessed value for taxation ($250k) is a starting point. The last recorded sale in late 2021 was in the $21.5k-$24.5k range, but market conditions and property specifics have changed since. A current market evaluation is essential.
3. What are the implications of the smaller living space?
The 640 sqft layout requires efficient use of space. It may be ideal for 1-2 people. Buyers should consider if the floorplan meets their needs or if a thoughtful renovation (like opening up rooms) is a future possibility.
4. What does "basement, not renovated" typically mean?
This usually indicates a foundational, utilitarian space. It likely has basic finishes and serves as a laundry and storage area. It presents future potential but would require investment to become finished living space.
5. How does this property compare to others on the same street?
Data shows nearby homes vary in size and value. For example, a reference listing at 575 Matheson is larger (810 sqft) and has a higher assessed value. This highlights that 577 Matheson is among the more modest offerings on the block, which can be an advantage for budget-conscious buyers.