Property Summary: 265 Belmont Avenue, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1927, presenting a straightforward and affordable entry point into Winnipeg’s Jefferson neighbourhood. Its key appeal lies in its relative value and practicality. With 777 sqft of living space and a renovated basement, it offers essential, efficient living without excess. The lot size is typical for the immediate street but is below the wider area average, emphasizing a low-maintenance outdoor space.

The home’s data reveals a clear value proposition: its assessed value is consistently below average for the street, neighbourhood, and city. This suggests a potentially lower property tax burden and an opportunity for buyers focused on fundamentals over premium finishes. It last sold in late 2021, providing a recent market benchmark.

This property would best suit a first-time homebuyer, an investor looking for a rental property, or someone seeking a modest, manageable home with the character of an older neighbourhood. Its below-average metrics across the board indicate it’s not a luxury offering but a pragmatic one, ideal for those who prioritize financial accessibility and a simplified footprint.

Frequently Asked Questions

1. What does the assessed value being "below average" actually mean for a buyer?
Primarily, it suggests a likely lower annual property tax bill compared to many homes in the city. It also indicates this is a value-priced entry in the market, not a premium property. Buyers should understand that assessed value is for taxation and isn't a direct marker of market sale price.

2. The home is nearly 100 years old. What should I be most concerned about?
While the basement is noted as renovated, the core systems (like plumbing, electrical, and the foundation) of a 1927 home require particularly thorough inspection. The renovation may address finishes, but an inspector should verify the condition of these older underlying structures.

3. How useful is the sold price history from 2021?
It provides a crucial data point from just over three years ago, showing the price range the market assigned to it at that time. This helps establish a trend, but it is not a current market valuation. The local market and interest rates have shifted since then, so a new appraisal would be necessary.

4. The living space is smaller than average. How does that affect living here?
The 777 sqft layout will require efficient use of space and likely has fewer or smaller rooms. The renovated basement adds functional area, but the above-grade living is compact. This suits individuals, couples, or those comfortable with a cozy, minimalist lifestyle.

5. There are many similar assessed value properties listed, but they seem to be condos. How is this different?
This is a key distinction. The listed comparables with similar assessed values are primarily condominium units (noted by apartment-style addresses). 265 Belmont is a detached house, meaning you own the land and the structure, with no monthly condo fees. This offers more autonomy but also full responsibility for all maintenance.