Property Overview: 675 Matheson Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Jefferson presents a solid, value-oriented opportunity. Its key characteristic is a renovated basement, adding functional living space to the 1,068 sqft footprint. The detached garage and a generous 5,518 sqft lot offer practical utility and outdoor potential.
The appeal lies in its strong positional value within its immediate area. While the living space is average for the neighbourhood, the property’s assessed value ranks within the top 16% on its street and top 10% in the Jefferson area, suggesting it is viewed favourably compared to its direct peers. Built in 1952, it is a newer construction than many homes on Matheson Avenue, potentially implying fewer concerns related to very aged infrastructure.
This property would suit practical buyers looking for a move-in-ready base with a modernized lower level, such as small families, couples, or investors seeking a stable rental. It’s a home that offers more than just the basics—the above-average assessment for the area hints at perceived quality or desirability that isn't immediately obvious from square footage alone, making it a savvy find for those focused on long-term value in a established neighbourhood.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home sold in June 2020 for an estimated $27.50k–$30.50k. Its current assessed value of $34.20k is higher, which is typical as assessments aim to reflect market value over time. This increase indicates the property has likely appreciated in the municipality's view since its last sale.
2. Is the living space smaller than average?
At 1,068 sqft, the living area is slightly below the average for similar homes on Matheson Ave (~1,227 sqft) but is actually slightly above the average for the wider Jefferson area (~1,029 sqft). The renovated basement effectively expands the usable space beyond the main floor square footage.
3. What does the "above average" assessment ranking mean for taxes?
A higher assessment relative to neighbours generally means you will pay proportionally higher property taxes. However, it also signals that the municipality considers the property to have greater value within its local context, which can be positive for equity.
4. How does the lot size compare?
The 5,518 sqft lot is above average for the Jefferson area, providing more private outdoor space than many nearby properties. On its own street, however, it is closer to the average.
5. Are homes from 1952 a concern?
While 74 years old, this home is newer than many on its street (where the average year built is 1939). This can be an advantage, potentially meaning updates to core systems have already been addressed or that major components are relatively younger. A thorough inspection is still essential.