Property Overview: 438 Burrin Avenue, Winnipeg

Key Characteristics & Appeal

This 952 sqft one-storey home on a 5,330 sqft lot in Jefferson presents a practical and value-oriented opportunity. Built in 1954, it is notably newer than many of its immediate neighbours and in the wider Jefferson area, which can suggest updated infrastructure or a longer potential lifespan before major system renewals. A key feature is its renovated basement, adding functional living space. The home includes a detached garage.

Its primary appeal lies in its strong value proposition within its local context. The assessed value of $34,300 ranks in the top 9% for both Burrin Avenue and the Jefferson area, indicating it is considered a higher-value property compared to its direct peers. However, its living space is average for the street and neighbourhood, suggesting the value is derived from factors like its condition, the basement renovation, or its lot, rather than sheer size. This combination makes it a standout in its immediate market without the premium of a much larger city-wide property.

This home would suit a first-time buyer or a downsizer looking for a manageable, single-level layout in an established neighbourhood. It’s also a sensible fit for a value-focused investor or buyer who prioritizes a property that benchmarks well locally and offers modernized touches (like the basement) over having above-average square footage.

Frequently Asked Questions

1. Why is the assessed value so high compared to nearby homes?
The assessment ranks in the top 9% for the street and Jefferson area, likely reflecting the renovated basement, the home's condition, and its relatively newer construction date (1954) compared to neighbourhood averages. It suggests the property has features or updates that the assessor views favorably relative to its peers.

2. How does the living space compare to a typical Winnipeg home?
At 952 sqft, the living area is below the Winnipeg city-wide average. However, it is squarely average for both Burrin Avenue and the Jefferson neighbourhood itself, making it a typical-sized home for this specific community.

3. What does the sold price history indicate?
Records show it last sold in April 2023 for an estimated range of $33,500-$36,500. This is closely aligned with its current $34,300 assessed value, suggesting a stable and consistent market valuation over the past two years.

4. Is the lot size a pro or a con?
The lot is approximately average at 5,330 sqft for the street, but above average for the Jefferson area. It offers a decent outdoor space for the neighbourhood without being overly large to maintain, representing a balanced offering.

5. The home is 72 years old. What should I consider?
While older, it was built a decade or more later than many homes on its street and in Jefferson. This can be an advantage, but a thorough inspection remains crucial to understand the condition of original components like the foundation, plumbing, and wiring, as well as the quality and permits for the basement renovation.