Property Overview
This one-storey home on Mighton Avenue in Winnipeg's Chalmers neighbourhood presents a straightforward, value-oriented opportunity. Built in 1926, its key feature is a renovated basement, adding valuable finished space to the 960 sqft main floor. The lot is a standard city size at just over 3,000 sqft. Recent sales data shows it transacted in May 2024.
Its appeal lies in its relative affordability and practicality. When compared to its immediate street and neighbourhood, the home is consistently "around average" in terms of lot size, living area, and assessed value, suggesting it's a typical property for the area without major outliers. This makes it a lower-risk consideration for someone wanting to enter the Chalmers market. The renovated basement is a clear functional advantage, offering potential for extra living, recreational, or utility space that isn't reflected in the main living area square footage.
This property would suit a first-time buyer or pragmatic investor looking for a home with baseline updates in an established neighbourhood. It’s for someone who prioritizes a sensible, move-in-ready foundation over high-end finishes or a large lot. The data suggests you’re buying a very median property for the local context, which can be a smart strategy for stability and future resale.
Frequently Asked Questions
Is the lot size a pro or a con?
At 3,030 sqft, the lot is perfectly average for both Mighton Avenue and the wider Chalmers area. It provides standard outdoor space for a city home but isn't oversized. This is typical for the neighbourhood and shouldn't be viewed as a disadvantage in this context.
What does "around average" in the rankings really mean?
For metrics like living area and assessed value, the home consistently ranks near the middle (between the 39th and 51st percentile) compared to its immediate peers on the street and in Chalmers. This indicates it's a very representative example of housing stock in this specific area, not an under or over-improved property.
How significant is the renovated basement?
Very. In a 960 sqft main-floor home, a renovated basement effectively doubles the usable living space. This is likely the home's most valuable upgrade, providing crucial extra room for storage, laundry, a family room, or a home office that isn't accounted for in the official "Living Area" square footage.
The home is 100 years old. What should I be mindful of?
While the basement has been renovated, the core structure and major systems (like plumbing, electrical, and the foundation) are from the original 1926 build. A thorough inspection is essential to understand the condition and age of these critical components, which can be costly to update.
Why is the city-wide ranking so low for value and lot size?
This highlights the difference between neighbourhood and city-wide markets. Compared to all Winnipeg properties, which include newer suburbs with larger lots and homes, this Chalmers property naturally ranks lower. This isn't a negative reflection on the home itself, but rather a reminder that it offers a different, more central and established type of urban living than a suburban property.