Property Overview
This one-and-a-half storey home on Mighton Avenue in Chalmers presents a specific and compelling opportunity. Built in 1907, it sits on a 3,191 sqft lot, which is notably larger than most on its street. With 1,066 sqft of living space, it offers more room than many comparable homes in the immediate neighbourhood. Key features include a detached garage and a basement, which is noted as not being renovated. The home last sold in 2019 for $110,000 and currently holds a $150,000 assessed value.
Its primary appeal lies in its land value and potential. The lot size is a significant asset for the area, offering space for gardening, expansion, or future redevelopment. It suits a practical, value-oriented buyer—perhaps a first-time homeowner willing to put in sweat equity, an investor looking for a land-hold opportunity, or someone seeking an affordable entry into the Winnipeg market with room to grow. The charm here isn't in move-in-ready finishes, but in the foundational opportunity it provides. A thoughtful perspective is that its older vintage and unrenovated state, while requiring work, also mean it's less likely to have the hidden issues of poor, quick flips. It's a straightforward project canvas.
Frequently Asked Questions
1. What does "not renovated" for the basement imply?
It typically means the basement is in original or functional condition, lacking modern finishes. Buyers should budget for potential updates to insulation, flooring, or moisture management, and have it inspected for foundational integrity.
2. The assessed value is $150k, but it sold for $110k in 2019. Which figure is more relevant?
The sale price is a historical fact, while the assessed value is used for calculating property taxes. The market value is determined by current conditions, buyer demand, and the home's present state. Both figures provide context, but neither guarantees the final sale price.
3. Who is this type of property best suited for?
It's ideal for buyers with a vision and a willingness to renovate over time. This includes contractors, handymen, first-time buyers prioritizing lot size over instant luxury, or investors considering the long-term land value in the Chalmers area.
4. The home is older (1907). Are there any advantages to that?
Older homes often feature solid, durable construction materials like true dimensional lumber. They also frequently have a character and layout distinct from modern subdivisions. However, an updated electrical system, plumbing, and insulation are likely needed and should be prioritized in an inspection.
5. How does the lot size compare meaningfully?
At 3,191 sqft, the lot is in the top 16% on Mighton Avenue. This means it offers more outdoor space than most direct neighbours, a valuable asset for privacy, recreation, or future additions where zoning allows.