Property Overview: 263 Belmont Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, one-and-a-half storey home built in 1920, offering 1,090 sqft of living space on a 3,282 sqft lot in the Jefferson neighbourhood. Its primary appeal lies in its position as an accessible entry point into the Winnipeg market. The home's living area is notably above average for Belmont Avenue itself, suggesting a relatively spacious layout compared to its immediate neighbours. However, the standout characteristic is its exceptionally low assessed value, which ranks in the bottom tier locally and city-wide. This creates a clear opportunity for value-seeking buyers, such as first-time homeowners, investors looking for a rental property, or hands-on individuals willing to undertake renovations. The appeal is pragmatic: it's a chance to secure a footprint in the city with a very low property tax burden, where the value is in the land and the structure's potential rather than in turn-key finishes.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Assessed value is based on a mass appraisal system considering factors like age, size, condition, and recent sales of comparable properties. A value this far below averages typically indicates the home is assessed as needing significant modernization or repair.

2. What does the sold price history range tell me?
The listed range (e.g., $13.5k - $16.5k in 1/2024) is derived from public data sources. To get the precise sale price, you must request it directly from the site via email. This practice is common for properties where sale prices are not widely published in official records.

3. Who would this property suit best?
It is best suited for a budget-conscious buyer with renovation skills or the capital to fund updates, or for an investor comfortable with managing a property that likely requires attention. It is less suited for someone seeking a move-in-ready home without additional project work.

4. How does its size compare practically?
While the living area is above average for its specific street, it is around or below average for the wider Jefferson area and city. This means the home feels spacious for its immediate block but is still a compact, characteristically older Winnipeg home.

5. Are the low property taxes a permanent advantage?
While the current assessed value results in low taxes, any significant renovation or improvement that increases the market value will likely trigger a reassessment, leading to higher property taxes in the future.