Property Overview

542 Perth Avenue is a compact, one-storey home in Winnipeg's Jefferson neighbourhood. Built in 1954, it sits on a notably generous lot for its area. The home's key features include a renovated basement and a detached garage. The data suggests a property that balances modest living space with valuable land, presenting a distinct opportunity for the right buyer.

Section 1: Key Characteristics & Appeal

Key Characteristics:
This is a 750 sqft bungalow, which is smaller than most comparable homes in Jefferson, the surrounding streets, and city-wide. Its primary physical asset is the 5,884 sqft lot, which is significantly larger than many of its immediate neighbours. The home itself is older than most on its street but has seen updates, notably in the basement. Its assessed value is around average for the local area.

Where Its Appeal Lies:
The appeal is rooted in a trade-off: accepting a smaller, older house to secure a much larger-than-average parcel of land in an established neighbourhood. The renovated basement adds functional living space, while the detached garage offers utility or storage. For investors or renovators, the lot size presents long-term potential, whether for expansion, gardening, or future redevelopment. It’s a property where the land may hold more inherent value than the current structure.

Ideal Buyer Profile:
This home would best suit a first-time buyer, a downsizer, or an investor looking for a lower entry point into the market. It appeals to those who prioritize outdoor space and location over a large interior footprint. A buyer with renovation skills or plans for a future addition could see significant value here, transforming the property over time. It is less suited for those requiring substantial move-in-ready living space.

Section 2: Frequently Asked Questions

1. Is the house in good condition?
While specific inspection details aren't provided here, the listing notes a renovated basement, indicating some updates. As a home built in 1954, a professional inspection is essential to understand the condition of major systems, the roof, and the foundation.

2. Why is the living area smaller than average?
At 750 sqft, the home is a classic post-war bungalow, designed for simpler living. Its size is below average for the area, which is reflected in its accessible price point and is a key reason the lot size is such a standout feature.

3. What can I do with such a large lot?
The nearly 6,000 sqft lot offers possibilities like extensive gardening, adding a deck or patio, creating play space, or building a shed. Importantly, its size may provide future potential for a significant addition or even a lot split, subject to local zoning regulations.

4. How does the assessed value relate to the likely selling price?
The assessed value (approximately $26,700) is for municipal tax purposes. The last known sold price range was $255,000-$285,000 in mid-2021. The actual market price will depend on current conditions, buyer demand, and the home's present state.

5. What is the neighbourhood like?
Jefferson is an established, mature neighbourhood in Winnipeg. The property rankings show its metrics are generally in line with or above area averages for lot size and year built, suggesting a stable, typical community for this part of the city.