Property Overview: 490 Jubilee Avenue, Lord Roberts, Winnipeg
Key Characteristics & Appeal
This home at 490 Jubilee Avenue is a character property with strong, above-average fundamentals for its sought-after Lord Roberts neighbourhood. Built in 1912, it offers a generous 1,600 sqft of living space, which ranks within the top 18% of homes on its street and the top 6% within Lord Roberts itself. The lot size of 4,528 sqft is also notably above average for the area. Recent sale data indicates strong value appreciation, with a 2024 sale in the $450k-$500k range, significantly above its 2017 sale price and its current assessed value.
The appeal lies in securing a well-sized, classic home on a good lot in a prime central neighbourhood. It suits buyers looking for character and space over new construction, who are comfortable with a home of this vintage and may see potential in its established footprint and lot. A thoughtful perspective is that while the home is older than most in the city, its above-average size and location have consistently supported its market value, positioning it as a solid, equity-building asset in a mature neighbourhood.
Frequently Asked Questions
1. Why is there such a difference between the assessed value and the recent sold price?
Assessed values in Manitoba are primarily for municipal tax purposes and often lag behind current market values, especially in desirable neighbourhoods where demand pushes sale prices above the assessed figure.
2. What should I consider about a home built in 1912?
While offering charm and solid construction, a home of this age will likely require careful attention to updates in systems like wiring, plumbing, and insulation. A thorough inspection is essential to understand the condition and any needed investments.
3. How does the lot size compare?
At 4,528 sqft, the lot is above average for the Lord Roberts neighbourhood, which is a significant advantage. It offers more outdoor space and potential than many nearby properties.
4. The data shows it's "below average" for year built. Is that a concern?
This simply means most homes in the wider city are newer. In the context of established, central neighbourhoods like Lord Roberts, an older home is common. The key is how this specific property's size, location, and condition compare within its more relevant local market.
5. Where can I see more context about this specific area?
You can open the neighbourhood map analysis to see this property in direct visual comparison to nearby homes, evaluating lot size, year built, and value on a street-by-street basis.