Property Overview: 174 Chalmers Avenue
Key Characteristics & Buyer Profile
This is a 1910-built, one-and-a-half storey home in Winnipeg's Chalmers neighbourhood, presenting a classic fixer-upper opportunity. Its key appeal lies in its proportion: the 1,142 sqft living area is notably above average for the immediate area, offering more interior space than many neighbouring homes, all situated on a standard 3,386 sqft lot. The property has an unfinished basement and no garage. Its most defining characteristic is its value proposition; with a very low assessed value and a 2019 sale price of $170k, it stands well below city-wide averages. This positions it not as a move-in-ready home, but as an affordable entry point into the market.
The property would suit a specific type of buyer: a hands-on purchaser looking for a footprint to renovate to their own tastes, or an investor seeking a lower-cost rental property with renovation potential. Its above-average interior space for the street is a thoughtful advantage, suggesting the home may have a more functional layout than others of its vintage in the area. However, buyers must be prepared for the work and investment required for a 116-year-old home, viewing it as a long-term project based on solid fundamentals rather than immediate convenience.
Frequently Asked Questions
1. What does the low assessed value indicate?
The assessed value is significantly below Winnipeg's average, which typically reflects the home's age, condition, and unfinished state. It suggests property taxes will be relatively low, but also that substantial investment is needed to modernize and increase the home's market value.
2. How does the living area compare to nearby homes?
This is a standout feature. The living area is in the top 21% for the Chalmers neighbourhood, meaning it offers more interior space than roughly 79% of comparable local homes. This provides a better foundation for renovation than many other properties in its price range.
3. What is the significance of the lot size?
At 3,386 sqft, the lot is slightly below the area average but is a standard city lot for the neighbourhood. It provides adequate outdoor space but is not unusually large or small for the area, keeping the focus on the house itself.
4. What can be inferred from the 2019 sale price?
The $170k sale price five years ago was well below averages even then, consistent with the home's status as a project property. This history reinforces its role as a longer-term value play rather than a recently updated home.
5. Are there any obvious major amenities missing?
The listing confirms there is no garage and no pool. The basement exists but is unrenovated. A key consideration for buyers will be budgeting for potential parking solutions and evaluating the basement's potential for future development.