Property Overview: 161 Mighton Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1913, presents a practical opportunity in Winnipeg's Chalmers neighbourhood. Its primary appeal lies in a clear value proposition: it offers significantly more living space (1,219 sq ft) than most comparable homes on its street and in the immediate area, all while carrying a below-average assessed value. This combination suggests potential for buyers comfortable with a property that requires updates. The home sits on a modest, sub-2,600 sq ft lot and features an attached garage and an unrenovated basement.
The property would best suit a value-conscious buyer, such as a handy first-time homeowner or an investor, who sees potential in the generous interior footprint and is prepared to modernize the space over time. Its historical sale prices, significantly below assessed value, indicate it may be an entry point into the market. A less obvious perspective is that its "below average" rankings in land size and value on its street could translate to lower property taxes relative to neighbours, while its above-average living area provides practical utility.
Frequently Asked Questions
1. Is the basement finished?
No, the basement is noted as being unrenovated, offering blank-canvas storage or future development space.
2. How does the property's size compare to others nearby?
The living area is notably larger than most homes on Mighton Avenue and in the Chalmers area. However, the land parcel is smaller than the average for the street and neighbourhood.
3. What is the significance of the historical sale prices?
The home sold for $12,800 in 2019 and $12,700 in 2017, prices that are substantially below its current assessed value of $160,000. This history is a critical point for discussion with a real estate professional to understand current market conditions.
4. What does the "below average" assessed value mean?
It means the home's city assessment is lower than most properties on the same street, in the neighbourhood, and across Winnipeg. This can be indicative of the home's condition or the specific market, but it does not directly dictate its future sale price.
5. Are there similar homes for comparison?
The listing references 183 Mighton Avenue as a direct neighbour for comparison (built 1912, 1,152 sq ft, assessed at $206,000). Several other properties in Chalmers with the same $160,000 assessment are also listed, providing a benchmark for what is available at that valuation point.