Property Overview
This 1911 one-storey home on a 2,724 sqft lot in Chalmers presents a straightforward opportunity. Its key appeal lies in its relative affordability and the potential of its lot. With 904 sqft of living space, a basement (unrenovated), and no garage, it is a basic, no-frills property. The home last sold in 2020 for $190k, which is notably below the city-wide average, and its assessed value remains low.
The property suits first-time buyers or investors comfortable with a project. Its appeal is grounded in value: you are purchasing a lot in an established neighbourhood for a low entry cost. A less obvious perspective is that the home's age and simple layout could be seen as a blank slate for creative redesign or efficient expansion, subject to permits and budget. It’s not for those seeking move-in readiness, but rather for those who see potential where others see a dated structure.
Frequently Asked Questions
1. What is the true condition of the basement?
The listing explicitly states the basement is "not renovated." Buyers should budget for inspections to understand any moisture issues, foundational integrity, and the state of mechanical systems.
2. How does the low assessed value impact property taxes?
A lower assessed value typically results in lower municipal property taxes compared to newer or more renovated homes in the city. This can improve monthly affordability.
3. Is there potential to add a garage or expand the home?
The lot size is around average for the street but below average city-wide. Any expansion or addition of a garage would require checking City of Winnipeg zoning bylaws for setbacks and lot coverage rules.
4. The home sold for $190k in 2020 but only $14.5k in 2016. What explains this?
The 2016 sale price is extremely low and may not represent a standard market transaction. It could have been a nominal sale between parties, a lot value sale prior to a now-removed structure, or an administrative figure. The 2020 price is the relevant market benchmark.
5. What are the immediate priorities for maintenance or repair?
Given the age (115 years), priority should be given to inspecting and updating critical systems: roof, wiring, plumbing, and insulation. The unrenovated state suggests most original systems may still be in place.