Property Overview

This one-storey home at 254 Forrest Avenue is a classic Winnipeg character property built in 1925. With 760 sqft of living space and a detached garage, it sits on a roughly 4,800 sqft lot. Its assessed value is notably modest compared to city-wide averages. The appeal here is rooted in practicality and potential. It suits first-time buyers seeking an entry point into the market, investors looking for a rental property with a stable foundation, or downsizers wanting a manageable footprint without condo fees. Its charm lies not in grandeur, but in its straightforward, no-frills offering—a solid, older home on a decent lot in an established neighbourhood. A thoughtful perspective is that its below-average living area and unrenovated basement could be seen as a blank canvas, allowing a new owner to customize without the premium of a recent, possibly generic, flip. Its value is fundamentally in the land and the structure's proven longevity.

Key Details & FAQs

Key Characteristics & Appeal

• Structure: A 760 sqft, one-storey house with a detached garage and an unrenovated basement.
• Lot: A 4,798 sqft lot, which is above average for the immediate street and neighbourhood.
• Context: The home is older and more compact than most in Winnipeg, but its assessed value is proportionally lower. Its recent sale price range (late 2024) suggests it transacts as an affordable, entry-level property.
• Ideal Buyer: Best suited for the budget-conscious first-time buyer, the practical investor, or someone seeking a minimal-maintenance living space. Its value is in its simplicity and the opportunity it presents, rather than in move-in-ready finishes.

Frequently Asked Questions

1. Is this a small house?
Yes. At 760 sqft, the living area is below average for the neighbourhood and significantly below the Winnipeg average. This makes it a compact, efficient living space.

2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and likely its condition relative to the broader market. It is more in line with averages for the local street and Jefferson neighbourhood.

3. What does "Top 93%" for living area city-wide mean?
This percentile ranking means that approximately 93% of homes in Winnipeg are larger. It clearly indicates this is a smaller-than-typical home for the city.

4. The home sold recently. What can that price tell me?
The sold price range from late 2024 provides the most current market valuation for this specific property, which is more relevant than annual assessed value for understanding its market price.

5. What are the main considerations for a buyer?
The primary considerations are the compact living space, the age of the home (101 years), and the state of the basement, which is noted as unrenovated. The potential lies in the decent lot size and the affordability it offers compared to larger, updated homes.