142 Mcphail Street

Property Summary

Key Characteristics & Appeal

This is a compact, one-storey home on a standard city lot in Winnipeg's Chalmers neighbourhood. Built in 1957, it is notably newer than many homes in the immediate area. Its key practical features include a detached garage and a renovated basement. The home's primary appeal lies in its affordability and efficiency. With 640 sq ft of living space, it is a notably smaller property, which translates to lower utility costs and minimal upkeep. The lot size is manageable at 2,501 sq ft, offering outdoor space without being burdensome.

This property would suit first-time buyers seeking an entry point into the market, investors looking for a rental property with a recent basement renovation, or downsizers who prioritize simplicity and low maintenance. A thoughtful perspective is that its "below average" size and value metrics compared to the city at large are actually its core strength, offering a lifestyle of financial and physical ease in a well-established neighbourhood. Its recent sale in late 2024 suggests it is a move-in ready home, not a project.

Frequently Asked Questions

1. Is the home unusually small?
Yes. At 640 sq ft, the living area is significantly smaller than most homes on its street and in Winnipeg overall. This is the defining characteristic of the property.

2. What does "renovated basement" mean?
The listing confirms the basement has been renovated, but the specific scope, quality, and whether it adds legal living space should be verified with the seller or a viewing.

3. How does the assessed value relate to the sale price?
The 2024 sale price of $200k is substantially higher than the listed assessed value of $20.30k. This large discrepancy is common and indicates the assessed value is likely not reflective of current market value; property taxes are based on the assessed value, not the sale price.

4. Is the neighbourhood older or newer?
The Chalmers area generally features older homes (average year built ~1934). This 1957 home is actually above average in age for the neighbourhood, making it a relatively newer build on the block.

5. Who might this property not suit?
It would likely not suit growing families needing multiple bedrooms, those who frequently work from home and need dedicated office space, or buyers who entertain large gatherings indoors, due to the compact living area.