Property Overview
557 Jubilee Avenue is a 768 sqft home built in 1948 on a notably large 7,289 sqft lot in Winnipeg's Lord Roberts neighbourhood. Its key appeal lies in the rare combination of a very modest, older house with an expansive lot that stands out significantly within its local area. While the living space is below average for the street and city, the property’s assessed value is competitive, and its lot size is elite for Lord Roberts, ranking in the top 4% of the neighbourhood. This presents a clear value proposition centred on land potential rather than the current structure.
Key Characteristics & Ideal Buyer
The home’s primary characteristic is its land-to-building ratio. The lot is over twice the neighbourhood average, offering exceptional outdoor space, privacy, and future potential in a central location. The house itself is compact and older, suggesting it may be best suited as a starter home, a downsizing opportunity, or a strategic investment. Its appeal is pragmatic: it offers entry into a established area with the valuable option to renovate, expand, or redevelop over time, all while currently carrying a relatively modest tax assessment.
This property would suit a hands-on buyer, an investor looking for land value, or someone seeking a lower-cost foothold in the neighbourhood who values private outdoor space more than a large interior. It’s less suited for those seeking a move-in-ready home with modern, spacious finishes.
Frequently Asked Questions
1. Is the house in need of major updates?
Given its age (1948) and below-average living area, buyers should anticipate typical maintenance or modernization needs for a home of this era. The value here is primarily in the land.
2. What makes the lot size so significant?
At 7,289 sqft, the lot is exceptionally large for Lord Roberts. For comparison, similar homes in the area average lots of about 3,482 sqft. This allows for ample yard space, gardens, parking, or future additions that are simply not possible on standard lots.
3. How does the assessed value affect property taxes?
With an assessed value around $31,600, which is above average for Lord Roberts, the property likely benefits from relatively lower property taxes compared to homes with higher assessments but similar lot sizes, making it a cost-effective holding.
4. What is the neighbourhood like?
Lord Roberts is a mature, central neighbourhood. The "Elite" ranking for lot size here indicates this property is a unique find in an area where large lots are uncommon, offering a rare sense of space.
5. Can I find out the exact historical sale price?
Exact sold prices are not published publicly. The listing service provides a sold price range (e.g., CA$250k–300k in 2016) and offers to provide the exact figure via a manual email request at no obligation.