Property Overview

This two-storey home at 381 Jacques Avenue in Winnipeg's Grassie neighbourhood presents a specific and compelling value proposition. Its appeal lies in the combination of generous, above-average living space within a well-established area, paired with a notably lower property assessment than many of its peers. The home is situated on a standard-sized lot and features an attached garage and a renovated basement.

Key Characteristics & Ideal Buyer

The home's key characteristic is its size. With 1,767 sqft of living area, it offers more space than the majority of homes on its street, in Grassie, and across Winnipeg. This is complemented by a renovated basement, adding functional living space. However, its assessed value is significantly lower than the average on Jacques Avenue, and its 1990 build date is older than most immediate neighbours. This creates a distinct profile: a larger, well-maintained home in a mature neighbourhood that is not carrying a premium price tag reflective of its square footage.

Its appeal is strongest for practical buyers who prioritize interior space and modernized living areas over a brand-new build or the largest lot on the block. It would suit a young family needing room to grow, a value-conscious purchaser looking for "more house" per dollar, or someone who prefers the established trees and character of an older community. The lower assessment also suggests a potentially favourable property tax situation compared to similarly sized homes in the city.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes on the street?
While the home offers more living space, its 1990 build date is older than the neighbourhood average. Assessment is based on multiple factors including age, size, and market trends, so the older construction date likely tempers the value compared to newer builds on the street.

2. Has the sold price history kept pace with the area?
Recent sale data shows a significant increase between the 2022 and 2024 sales, indicating strong appreciation. The 2024 sale price positioned the home favourably compared to city-wide averages.

3. What does "renovated basement" typically include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This should be clarified during a viewing to understand the quality and functionality of the space, including ceiling height, moisture control, and permitted uses.

4. Is the lot size a drawback?
At just over 5,700 sqft, the lot is slightly smaller than the immediate street average but is very close to the standard city-wide lot size. It provides typical backyard space for the area without extensive maintenance.

5. How does this home compare for long-term value?
The combination of ample, updated living space with a lower tax assessment base can be an efficient long-term holding. The trade-off is the potential for higher maintenance costs associated with an older home compared to a new build, which should be factored into any investment decision.