Property Overview: 5-610 Jefferson Avenue, Garden City, Winnipeg

Key Characteristics & Appeal

This is a compact, 850 sqft condo unit in a low-rise building on Jefferson Avenue in Garden City. Its primary appeal lies in its exceptional affordability, as reflected in its very low municipal assessed value of $13,500. This places it in the bottom 10% of values on its own street and in the bottom 8% citywide, making it one of the most budget-friendly ownership options in Winnipeg. The living space is modest but competitive for the immediate area.

The building itself is older, constructed in 1960. This suggests potential for character but also means buyers should be prepared for the maintenance realities of a mature building. The unit does not have a basement.

This property would suit a very specific buyer: first-time purchasers or investors seeking the absolute lowest entry point into the Winnipeg market. It’s for those whose primary criterion is minimizing monthly carrying costs, who are comfortable with a smaller footprint, and who approach an older building with practical expectations. A thoughtful perspective is that such a low assessment can sometimes indicate a well-maintained but unrenovated unit, offering a true "blank canvas" for someone willing to build equity through gradual updates.

Frequently Asked Questions

1. Why is the assessed value so much lower than other properties?
The assessed value is based on the municipal valuation for tax purposes, which considers factors like the building's age (1960), unit size, and recent sales of comparable properties. Its ranking in the bottom 10% on its street indicates it is consistently valued lower than its immediate neighbors.

2. What does the sales history tell us?
The unit sold twice in recent years (2018 and 2024), both times within a very similar, low price range. This indicates a stable, low-value market for this specific unit, not prone to dramatic swings.

3. Are there other identical units in the building?
Yes, the listing shows multiple units at the same address (e.g., 1-610, 2-610 Jefferson Ave.), suggesting this is a multi-unit condo complex. It would be important to review the condo corporation's financial health and rules.

4. What are the potential downsides of such an old building?
While offering affordability, a building from 1960 may have older major systems (roof, plumbing, windows). A review of the condo corporation's reserve fund study is essential to understand plans and funding for future repairs.

5. How accurate are the "Top %" rankings provided?
These rankings compare this unit against defined groups (its street, Garden City, and all Winnipeg). They are a useful tool to quickly gauge how it stacks up in terms of size, value, and age relative to those specific peers, confirming its position as a smaller, older, and notably lower-valued property.