Property Overview
150 Watt Street is a well-situated one-storey home in Winnipeg's Chalmers neighbourhood, built in 1954. It sits on a generous 5,517 sqft lot, which is notably larger than most in the immediate area and the wider neighbourhood. The home itself has 1,062 sqft of living space and features a renovated basement and a detached garage. It recently sold for $290,000.
Key Characteristics & Appeal
The primary appeal of this property is its land. The lot size is in the top 6% for the Chalmers neighbourhood, offering significant outdoor space and potential that is increasingly rare for the price point. While the living area is modest, the renovated basement adds functional space. Its 1954 build date is newer than many area homes, potentially suggesting fewer concerns with extremely aged infrastructure.
This home suits practical buyers looking for a solid foundation in a established neighbourhood. It’s ideal for someone who values private outdoor space for gardening, children, or future expansion more than a large interior footprint. The detached garage is a key asset for hobbyists, extra storage, or workshop space. The recent sale at a price significantly above the assessed value indicates a strong market perception of its worth, likely tied to the desirable lot and updates.
Frequently Asked Questions
Q: How does the lot size compare to nearby properties?
A: Exceptionally well. The lot is over 2,000 sqft larger than the neighbourhood average, placing it in the top tier for Chalmers. This is one of the property's defining features.
Q: The assessed value is much lower than the sale price. Why?
A: Municipal assessments for tax purposes often lag behind current market values, especially in active markets or for properties with unique features. The sale price reflects what buyers are currently willing to pay for this home's specific combination of land, location, and condition.
Q: Is the living space too small?
A: That depends on your needs. The above-ground living area is compact, but the renovated basement provides additional flexible space. The trade-off is the larger lot, making it better suited for those who spend time outdoors or value expansion potential over a sprawling interior layout.
Q: What does "above average" for year built mean for a 1954 home?
A: In Chalmers, many homes are from the early 1900s. A 1954 build is relatively newer for the area, which can sometimes mean more modern construction techniques, electrical systems, or layout philosophies compared to its older neighbours.
Q: Who would this property not suit?
A: It may not be the best fit for buyers seeking a large, move-in-ready interior without future projects, or for those who prefer a low-maintenance yard. The value here is weighted toward the land and potential, rather than extensive finished living space.