Property Overview & Appeal

This one-and-three-quarter storey home at 231 Perth Avenue is a classic Winnipeg character property built in 1932. Its key characteristics include 1,144 sqft of living space, a detached garage, and a full, unrenovated basement. The lot is a notable feature at over 5,800 sqft, which is above average for the Jefferson neighbourhood, offering valuable outdoor space and potential.

The appeal lies in its position as a solid, entry-level home in a mature community. The assessed value of $240k is notably below average for the street, neighbourhood, and city, which could present a relative value opportunity for a buyer comfortable with a home of this vintage. It would suit a practical first-time buyer, an investor looking for a character rental, or a hands-on owner who sees potential in the generous lot and is prepared for the maintenance and updates typical of a 94-year-old home. Its unrenovated state is a canvas for adding personal value, while the larger lot provides a sense of space not always found at this price point.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common Winnipeg architectural style, typically featuring a main floor and a second floor where the roofline slopes into the walls, creating cozy bedrooms with potentially slanted ceilings. It offers more space than a bungalow but often with a unique, character-filled layout.

2. The assessed value seems low. What does that indicate?
The below-average assessment suggests the city's valuation accounts for the home's age and condition relative to others. It can mean a lower property tax burden, but it also signals that the home likely requires modernization compared to peers. It’s a key figure for budgeting but not a direct predictor of sale price.

3. What are the implications of an unrenovated basement?
An unrenovated basement offers both a project and potential. It provides essential mechanical systems and storage but will require proper inspection for moisture, insulation, and foundation integrity. Finishing it could add significant liveable space, but the initial condition means those costs and decisions fall to the new owner.

4. How does the larger lot size benefit a buyer?
Beyond simple outdoor space, the above-average lot for Jefferson provides practical advantages: more room for gardening, play, or pets, better potential for additions like a shed or deck, and possibly more privacy from neighbours. It’s a long-term asset that adds flexibility.

5. The last sale was in 2021. What should I consider?
The 2021 sale price range suggests the property may have seen some turnover, but not frequently. It’s wise to investigate what, if any, work was done in that time. The current value will be influenced by market shifts since 2021 and the property’s maintained condition over the last four years.