Property Overview

This one-storey home at 831 Jessie Avenue in Winnipeg's Earl Grey neighbourhood presents a compact, no-frills opportunity. Its key appeal lies in being an affordable entry point into a well-established area. With 751 sqft of living space, it is notably smaller than most comparable homes locally and city-wide, indicating a true starter home or downsizing option. The property features a detached garage and a full, unrenovated basement on a standard 3,725 sqft lot. Built in 1946, it is actually newer than many homes in its immediate area, which may suggest slightly updated core systems compared to neighbouring century-old homes. The recent sale price and assessed value are consistently below average, reinforcing its position as a value-oriented listing.

This property would best suit a first-time buyer comfortable with a project, an investor looking for a straightforward rental, or someone seeking to minimize living space and expenses in a central location. Its smaller size and unrenovated state mean immediate costs may be lower, but it leaves room for future personalization. A less obvious perspective is that its "below average" size and value could be a strategic advantage, potentially resulting in lower property taxes and utility costs, while the lot size is generous for the area, offering valuable outdoor space.

Frequently Asked Questions

1. Is the basement finished or usable for living space?
No, the basement is noted as "not renovated," meaning it is unfinished and would require significant work to be used as formal living space.

2. How does the home's size compare to others in the area?
At 751 sqft, the living area is significantly smaller than the local average, ranking in the bottom 10% for Earl Grey. This emphasizes its status as a compact home.

3. What does the assessed value tell us about the property?
The assessed value is below the average for the street and city, which generally aligns with the home's smaller size and unrenovated condition. This often correlates with a more affordable purchase price and property taxes.

4. The home was built in 1946. Is that old for this neighbourhood?
Interestingly, no. While 80 years old, it ranks in the top 25% for its street, meaning it is newer than many homes in Earl Grey. This could indicate that major components like wiring or plumbing might be from a later era than in neighbouring, older houses.

5. What is the potential here for an investor or buyer willing to renovate?
The primary potential lies in the land value and location within Earl Grey. The unrenovated basement and compact main floor present clear opportunities to add value and customize the space, though any investment should be weighed against the home's modest overall square footage.