Property Overview

This 720 sqft, one-storey home on a 4,745 sqft lot at 324 Rupertsland Avenue is a classic post-war bungalow built in 1948. Its key characteristic is its compact, efficient footprint. The home features a basement (not renovated) and a detached garage. Market data indicates its living space is notably smaller than most comparable homes in the neighbourhood, city, and even on its own street. Its assessed value is well below area averages, reflecting its size and condition. The lot size is fairly typical for the Jefferson area.

Section 1: Key Characteristics & Appeal

The primary appeal of this property lies in its affordability and potential. With an assessed value and recent sold price significantly below typical Winnipeg benchmarks, it presents a clear entry point into homeownership. Its compact size means lower utility costs and less maintenance, while the generous lot offers outdoor space and future possibilities.

This home would suit a specific type of buyer: first-time purchasers or investors looking for a straightforward, lower-cost asset. It’s a practical choice for those comfortable with a home that may require updates over time, as the basement is noted as unrenovated. A thoughtful perspective is that this smaller, older home on a standard lot could represent a “blank canvas” in a mature neighbourhood—offering the chance to add value through thoughtful renovations or even a future expansion, leveraging the existing lot space.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the home’s specific attributes, primarily its below-average living area (720 sqft vs. a city average over 1,300 sqft) and its unrenovated condition, including the basement.

2. What does “below average” for living area mean for daily life?
It means the home’s interior space is efficiently laid out. It will suit a minimalist lifestyle, a small household, or someone who views the home as a cozy base rather than a place for extensive entertaining or storage.

3. Is the unrenovated basement finished or usable?
The listing specifies it is “not renovated,” which typically means it is in a rough, unfinished state. It provides foundational space and storage but would require investment to become a finished living area.

4. How does the lot size compare, and what does that allow?
At 4,745 sqft, the lot is slightly below average for Rupertsland Avenue but around average for the Jefferson neighbourhood. It provides a good-sized yard for gardening, recreation, or pets, and its proportions are standard for the area.

5. The home sold recently in late 2024. What does that price indicate?
The sold price range (approximately $23.5k - $26.5k) confirms the market value aligns closely with the low assessed value. This reinforces its position as a highly affordable property, likely transacting as a functional starter home or investment property.