Property Overview: 501 Matheson Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1947, presents a straightforward opportunity in Winnipeg's Jefferson neighbourhood. Its key appeal lies in its position as an accessible entry point into the housing market. With a living area of 848 sq ft and a notably low assessed value, it stands out as one of the most affordable options both on its street and citywide. The home features a detached garage and a full, unrenovated basement, offering functional space and potential for future customization.

The property’s lot, while smaller than area averages, provides manageable outdoor space with minimal upkeep—a practical feature for those seeking a low-maintenance footprint. Its appeal is primarily utilitarian, suited for a specific buyer: first-time purchasers or investors looking for a low-cost acquisition where the value is in the land and the structure's potential, not in immediate move-in condition. It’s a property that asks for a vision, whether that’s a gradual, sweat-equity renovation or a long-term hold in a neighbourhood where comparable homes have significantly higher average values. A thoughtful perspective is that its below-average metrics across the board are precisely what create its niche, filtering for buyers who prioritize affordability and possibility over present-day finishes or size.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than nearby homes?
The assessed value reflects the property's smaller size, unrenovated state, and the specific market conditions at its last evaluation. It indicates this is a value-priced home, not a premium one, which is central to its positioning.

2. Is the basement finished?
No, the basement is noted as being present but unrenovated. This represents both a cost-saving on the purchase price and a future opportunity for additional living space or storage.

3. What type of work might this home need?
Given its age and the note that it is not renovated, buyers should budget for updates. This could range from cosmetic improvements to essential system upgrades (like plumbing, electrical, or insulation), which is typical for homes of this vintage.

4. How does the small lot size impact the property?
The land area is significantly smaller than area averages. This means lower maintenance, but also less private outdoor space and limited potential for expansions that require a large footprint. It’s a trade-off that contributes to the affordability.

5. Where can I find the exact historical sale prices?
The provided data shows estimated sale price ranges. As noted on the detail page, you can request the exact sold price history by emailing the source directly, as they compile this data manually from public records.