3-620 Jefferson Avenue

Property Overview

This property at 3-620 Jefferson Avenue in Winnipeg's Garden City neighbourhood presents a unique, value-focused opportunity. Built in 1960, its key characteristic is its exceptionally low municipal assessed value of $12,500, which ranks in the top 2% of all Winnipeg properties for low assessment. The living space is compact at 650 sq ft. The data indicates no basement, no garage, and no pool. Its appeal lies squarely in its position as a minimal-assessment holding, potentially suited for land value, redevelopment, or as an entry point with very low property tax obligations. It would likely suit investors or buyers interested in the underlying land value, those looking for a tax-efficient asset, or possibly someone seeking a small, minimalist footprint. A thoughtful perspective is that this could represent a "blank slate" within an established neighbourhood, where the value is not in the existing structure but in future potential or as a strategic financial asset, given that similar-sized nearby properties have significantly higher assessments.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
The assessed value is based on the property's market value as determined by municipal assessors. A value this significantly lower than comparable listings typically reflects the condition, size, or specific nature of the unit (it may be a very small condo or bare land title). It's essential to review the legal title and status certificate to understand exactly what is being conveyed.

2. What type of ownership is this (e.g., freehold, condo, co-op)?
The listing data does not specify. Given the address format ("3-620") and the lack of detailed information on common elements, verifying the exact form of ownership with the listing agent or through a title search is a critical first step.

3. Who is this property most suitable for?
It is most suited for investors, land bankers, or buyers with a very limited budget for both purchase price and ongoing property taxes. It is likely not suitable for someone seeking a move-in ready home with standard amenities, given the absence of features like a basement or garage.

4. Are the low property taxes a permanent advantage?
While the current taxes are based on this assessment, a new owner should be aware that a significant improvement or change to the property could trigger a reassessment, potentially bringing the value and taxes in line with area norms.

5. How does the small living area (650 sq ft) compare to the neighbourhood?
The data shows this living area is smaller than 95% of properties on the same street and 99% in Garden City, making it one of the smallest units in the area. This is a key factor in its valuation and dictates a very specific, minimalist lifestyle.